Summit Properties unit accepts all €6.67 million 2025 notes tendered

By Mary-Katherine Stinson

Lexington, Ky., Feb. 12 – Summit Properties Ltd.’s wholly owned subsidiary, Summit Luxco Sarl, will accept for purchase all €6.67 million notes that were tendered in its offer to purchase up to €40 million of Summit Properties’ outstanding €188,291,000 of 2% senior notes due 2025 (ISIN: XS1757821688), according to a notice.

This results in a total purchase price of €6,319,825, excluding accrued interest.

As previously reported, Summit Luxco will purchase the notes at a price of 94.75.

The offer began on Feb. 5 and expired at 11 a.m. ET on Feb. 9.

Settlement is expected no later than Feb. 14.

The offeror only accepted tenders with respect to Regulation S notes. No tenders of Rule 144A notes of the same series (ISIN: XS1757821506) were accepted.

Morgan Stanley & Co. International plc (debt_advisory@morganstanley.com) is dealer manager for the tender offer.

Kroll Issuer Services Ltd. (attn.: Arlind Bytyqi / Alessandro Zorza; +44 20 7704 0880; summit@is.kroll.com; https://deals.is.kroll.com/ summit) is the tender agent.

Previously Summit Germany Ltd., the issuer is a German commercial real estate company registered in Guernsey.

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