Globalworth Real Estate accepts €100 million of tendered 2025 notes, none of 2026 notes

By Marisa Wong

Los Angeles, June 27 – Globalworth Real Estate Investments Ltd. announced results of its June 20 offer to purchase for cash an aggregate principal amount of up to €100 million of its outstanding €550 million 3% notes due March 29, 2025 (ISIN: XS1799975922) and €400 million 2.95% notes due July 29, 2026 (ISIN: XS2208868914) through an unmodified Dutch auction procedure.

Globalworth has decided to accept for purchase €100 million of the 2025 notes tendered, subject to a scaling factor of 61.7736%, according to a Tuesday press release.

The aggregate purchase consideration, excluding interest, for the 2025 notes tendered and accepted for purchase will be €83,171,310, which will be funded by cash on the company’s balance sheet.

The company will also pay accrued interest.

Settlement will be on June 29, leaving €450 million of the 2025 notes outstanding.

The company has decided not to accept any of the 2026 notes tendered.

As previously announced, the minimum purchase price was 81.5 for the 2025 notes and 74 for the 2026 notes.

The purpose of the tender offer is, among other things, to proactively manage the company’s debt maturity profile.

Citigroup Global Markets Ltd. and HSBC Continental Europe are the dealer managers.

The tender agent is Kroll Issuer Services Ltd.

Further information can be obtained at www.globalworth.com or by contacting group chief financial officer Stamatis Sapkas (+40 732 800 000) or nominated adviser and joint broker Panmure Gordon or Dominic Morley (+44 20 7886 2500).

Globalworth is a real estate investment company with holdings located primarily in Romania and Southeast Europe. The company is based in Bucharest, Romania.

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