TAG Immobilien begins cash tender offer for 5.125% notes due 2018

By Marisa Wong

Morgantown, W.Va., Aug. 23 – TAG Immobilien AG said it is inviting holders of its €310 million 5.125% outstanding senior notes due August 2018 to tender their notes for purchase for cash.

The offer began on Wednesday and expires at 11 a.m. ET on Sept. 12.

The company is offering to purchase the notes at 104.6 plus accrued interest up to but excluding the settlement date, which is expected to be Sept. 14.

The company said the tender offer will enable noteholders to benefit from a redemption opportunity at a fixed price ahead of the maturity date without any trading risk; meanwhile, the company can further streamline its balance sheet and financing structure.

TAG Immobilien is a Hamburg, Germany, property investment company.

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