Grupo Pestana buys back €700,000 of 2.5% senior bonds due 2025

By Mary-Katherine Stinson

Lexington, Ky., July 14 – Grupo Pestana – SGPS, SA repurchased €700,000 of its €60 million 2.5% senior bonds due Sept. 23, 2025 (ISIN: PTGRPAOM0012), according to a notice.

The purchase price was equal to the price paid in the company’s recent tender offer which concluded on July 11.

As previously reported, the issuer offered to pay a purchase price of €98,500 per note, plus accrued interest, in that tender offer.

Repurchased notes will be canceled.

Following the tender offer and the repurchase, €27.1 million of the bonds will remain outstanding.

The hospitality company is based in Funchal, Portugal.

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