Atrium European cuts pricing in cash tender offer for 6.8% notes

By Jennifer Chiou

New York, June 7 - Atrium European Real Estate Ltd. announced that it has cut the purchase price for its 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 company will now pay €1,005 for each €1,000 principal amount of notes plus accrued interest for notes tendered after 11 a.m. ET on June 17. Noteholders who tender prior to that time will still receive €1,010 per €1,000 of notes.

The offer began on April 13 and expires at 11 a.m. ET on Nov. 18 or earlier, if the company makes a further announcement. The offer was originally scheduled to expire on May 13.

As of 11 a.m. ET on May 13, Atrium had received tenders for €8,333,000 of the notes. The company said at the time that it decided to accept all tendered notes for purchase on May 17.

Atrium previously 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 company holds €9,833,000 of the outstanding notes.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.