| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2020 > News item |
Merlin to accept tenders for €258.91 million of notes due 2022, 2023
By Sarah Lizee
Olympia, Wash., July 13 – Merlin Properties Socimi SA announced the indicative results of the tender offer for its €700 million 2.375% notes due May 23, 2022 (ISIN: XS1416688890) and its €850 million 2.225% notes due April 25, 2023 (ISIN: XS1398336351), according to a notice.
The company said it will purchase all €151.7 million notes due 2022 and all €107,214,000 notes due 2023 tendered under the offer.
As previously reported, the maximum purchase amount for both series was set at €500 million, subject to a new financing condition.
Pricing will be determined using the February 2022 interpolated mid-swap rate plus a 120 basis points spread for the 2022 notes.
Pricing for the 2023 notes will be determined using the January 2023 interpolated mid-swap rate plus a spread of 175 bps.
Pricing was set to be determined around 8 a.m. ET on July 13.
Priority may be given in the tender offer to noteholders who wish to subscribe to new notes in the concurrent new financing.
The company is seeking to extend its debt maturity profile by conducting the tender offer.
Tenders were due by 11 a.m. ET on July 10.
The acceptance date is July 13 while settlement is expected for July 14.
Joint dealer managers for the offer are Citigroup Global Markets Ltd. (+44 20 7986 8969, liabilitymanagement.europe@citi.com), Credit Agricole CIB (+44 20 7214 5903, liability.management@ca-cib.com) and Societe Generale (+33 1 42 13 32 40, liability.management@sgcib.com).
The tender agent is Lucid Issuer Services Ltd. (+44 207 704 0880, merlin@lucid-is.com).
Merlin Properties is a real estate investment trust based in Madrid.
© 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.