Grupo Pestana launches tender offer for 2.5% senior bonds due 2025

By Marisa Wong

Los Angeles, June 30 – Grupo Pestana – SGPS, SA is inviting holders of its outstanding €60 million 2.5% senior bonds due Sept. 23, 2025 (ISIN: PTGRPAOM0012) to tender any and all of their notes for purchase for cash.

The issuer is offering to pay a purchase price of €98,500 per note, plus accrued interest.

The offer will expire at 11 a.m. ET on July 11.

Settlement will be on July 14.

The dealer manager is Banco Bilbao Vizcaya Argentaria, SA (liabilitymanagement@bbva.com; +44 20 7397 6029/6061, +351 21 311 73 90).

The tender agent is Kroll Issuer Services Ltd. (attn.: Thomas Choquet; pestana@is.kroll.com; https://deals.is.kroll.com/pestana; +44 20 7704 0880).

The hospitality company is based in Funchal, Portugal.

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