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Prospect News home > News index > List of issuers Tenders > Headlines for 2021 > News item
Published on 9/27/2021 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

EM-focused CTP offer fully subscribed, will apply scaling factor

Chicago, Sept. 27 – CTP NV provided the results of its capped tender for up to €150 million of its €650 million 2 1/8% notes due 2025 (ISIN: XS2238342484), according to an announcement.

At the 11 a.m. ET Sept. 24 deadline, the company had received tenders for €294,001,000 of the notes.

The company will accept €149,998,000 of the notes for purchase, applying a scaling factor of 49.165%.

After settlement of the offer, there will be €500,002,000 of the notes outstanding.

As previously reported, the company was offering to buy the notes for €1,072 per €1,000 note. Accrued interest will also be paid.

The company was conducting the tender offer to manage its overall debt redemptions and extend its debt maturity profile.

The tender offer was subject to a new issue condition. CTP offered €1 billion of new notes.

Settlement for the tender offer will occur on Sept. 29.

Citigroup Global Markets Ltd. (+44 20 7986 8969, liabilitymanagement.europe@citi.com), Erste Group Bank AG (+43 501009 84020), Goldman Sachs Bank Europe SE (gs-ldnigsynd@internal.email.gs.com), ING Bank NV (+44 20 7767 6784, liability.management@ing.com), J.P. Morgan AG (+44 20 7134 2468, em_europe_lm@jpmorgan.com, KBC Bank NV (+32 2 417 35 65, dcm@kbcsecurities.be) and Morgan Stanley Europe SE (+44 20 7677 5040, liabilitymanagementeurope@morganstanley.com) are working as dealer managers.

Lucid Issuer Services Ltd. is the tender agent (+44 20 7704 0880, ctp@lucid-is.com).

CTP is a real estate company that owns and develops business parks in Central and Eastern Europe. The company has offices in Prague and Utrecht, The Netherlands.


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