Damac tenders for $250 million of Alpha Star’s certificates due 2019

New York, April 3 – Damac Real Estate Development Ltd. began a tender offer for up to $250 million of the $452,276,000 of outstanding trust certificates due 2019 issued by Alpha Star Holding Ltd., according to an announcement.

The company is offering 101.25% of par plus accrued distributions up to but excluding the settlement date.

Tenders must be submitted by the expiration deadline of 11 a.m. ET on April 10. Settlement is planned for April 19.

Completion of the tender is subject to conditions including a financing condition which requires that the company and Alpha Star Holding V Ltd. successfully settle an offering of new certificates.

Holders who participate in the tender may receive priority in the allocation of new certificates.

The dealer managers are Barclays Bank plc (+44 20 3134 8515 or eu.lm@barclays.com), Emirates NBD PJSC (+971 4303 2800 or dcmsf@emiratesnbd.com) and HSBC Bank plc (+44 20 7992 6237 or lm_emea@hsbc.com). Lucid Issuer Services Ltd. (+44 20 7704 0880 or damac@lucid-is.com) is tender agent.

Damac is a Dubai-based real estate development company.

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