Atrium European launches cash tender offer for 6.8% notes due 2011

By Marisa Wong

Madison, Wis., April 13 - Atrium European Real Estate Ltd. announced it began a cash tender offer for any and all of the €35 million of outstanding 6.8% guaranteed notes due Dec. 21, 2011 issued by wholly owned subsidiary Manhattan Development sro.

The offer began on April 13 and will expire at 11 p.m. ET on May 13.

The company will pay €1,010 for each €1,000 principal amount of notes plus accrued interest.

Atrium said the offer will allow the company to continue its strategy of acquiring its debt in order to achieve interest cost savings and to source financing opportunities.

The offer is expected to settle on May 17.

Deutsch Bank AG, London Branch is 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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