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Atrium European wraps up cash tender offer for 6.8% guaranteed notes
By Marisa Wong
Madison, Wis., Nov. 21 - Atrium European Real Estate Ltd. announced that holders tendered €11,133,000 principal amount of notes as of 11 a.m. ET on Nov. 18, the expiration date of the cash tender offer for any and all of the €35 million of 6.8% guaranteed notes due Dec. 21, 2011 issued by wholly owned subsidiary Manhattan Development sro.
The tender offer began on April 13, 2011. It was originally scheduled to expire on May 13, 2011.
Atrium has accepted all tendered notes for purchase. Settlement will occur on Nov. 22.
As previously reported, the company will pay €1,000 for each €1,000 principal amount of notes tendered after 11 a.m. ET on Aug. 19. The conversion price for notes tendered after the periodic expiration deadline was previously lowered to €1,005 for each €1,000 of notes. Noteholders who tendered prior to that deadline will receive €1,005 per €1,000 of notes, lowered from €1,010 per €1,000 of notes.
Holders will also receive accrued interest.
The company said it will redeem all the outstanding notes that were not tendered and purchased on the maturity date.
Deutsch Bank AG, London Branch was the dealer manager (44 20 7545 8011 or liability.management@db.com) and tender agent (44 20 7547 5000 or xchange.offer@db.com).
Atrium is a Jersey, Channel Islands, company that owns, operates and develops shopping centers in Central and Eastern Europe.
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