Cromwell tenders for €230 million 2.5% convertibles due 2025

By Wendy Van Sickle

Columbus, Ohio, June 7 – Cromwell Property Group announced on Tuesday a cash tender offer for any and all of the outstanding €230 million 2.5% guaranteed convertible bonds due 2025 (ISIN: XS1797409072) issued by Cromwell SPV Finance Pty Ltd.

The purchase price will be €99,750 per €100,000 principal amount, plus accrued interest to, but excluding, the settlement date.

Tender instructions must be submitted in increments of €100,000.

The tender will be financed through liquidity and is meant to help simplify Cromwell’s funding structure ahead of its anticipated launch of a new real estate investment trust.

The offer will expire at 11 a.m. ET on June 14. Settlement is expected on June 22.

Citibank, NA, London Branch (+44 20 7508 3867 or citiexchanges@citi.com) is the tender and information agent.

Credit Suisse (Singapore) Ltd. (apacibcm.legal@credit-suisse.com) is the dealer manager.

Cromwell is a real estate investor and fund manager based in Singapore.

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