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Aroundtown accepts 438.3 million in tenders for 2025, 2026 notes
By Mary-Katherine Stinson
Lexington, Ky., April 5 Aroundtown SA announced results of its cash tender offers for several series of outstanding senior notes due 2025 and 2026, according to a notice.
Aroundtown announced it will increase the tender cap and accept 438.3 million in total principal amount of the notes tendered. The offer was launched with Aroundtown originally accepting up to a maximum amount of 400 million.
The total purchase consideration for the notes is 347,842,400, excluding interest.
The offers expired at 11 a.m. ET on April 4.
The results by series are as follows:
66.5 million of the 700 million 1% series K notes due 2025 (ISIN: XS1715306012) issued by Aroundtown were tendered and accepted for purchase with a minimum purchase price of 83 for a total consideration of 57,821,000 excluding interest;
115.8 million of the 800 million 0.625% series 32 notes due 2025 (ISIN: XS2023872174) issued by Aroundtown, were tendered and accepted for purchase with a minimum purchase price of 80.5 for a total consideration of 96,209,000 excluding interest;
19.2 million of the 500 million 1.875% series I notes due 2026 (ISIN: XS1649193403) issued by Aroundtown were tendered and accepted for purchase with a minimum purchase price of 81 for a total consideration of 15,794,000 excluding interest;
37.7 million of the 600 million 1.5% series 36 notes due 2026 (ISIN: XS1843435501) originally issued by TLG Immobilien AG were tendered and accepted for purchase with a minimum purchase price of 77 for a total consideration of 29,458,200 excluding interest;
192.2 million of the 1 billion 0% series 38 notes due 2026 (ISIN: XS2273810510) issued by Aroundtown were tendered and accepted for purchase with a minimum purchase price of 71 for a total consideration of 143,247,200; and
6.9 million of the 500 million 2% series O notes due 2026 (ISIN: XS1815135352) issued by Aroundtown were tendered and accepted for purchase with a minimum purchase price of 77 for a total consideration of 5,313,000 excluding interest.
The purchase prices were determined via an unmodified Dutch auction procedure.
The company will also pay accrued interest except for the series 38 notes, which were non-interest bearing.
Settlement is slated for April 6.
Notes not tendered in the offer will remain outstanding.
Following settlement, the outstanding amounts per series will be as follows: for the series K notes 538.9 million; for the series 32 notes 638.4 million; for the series I notes 231.8 million; for the series 36 notes 562.3 million; for the series 38 notes 807.8 million; and for the series O notes 298.3 million.
Citigroup Global Markets Ltd. (+44 20 7986 8969; liabilitymanagement.europe@citi.com), Deutsche Bank AG (+44 20 7545 801) and Goldman Sachs International (+44 20 7552 6157; liabilitymanagement.eu@gs.com) are dealer managers for the offers.
Kroll Issuer Services Ltd. (+44 20 7704 0880; attn.: Arlind Bytyqi / Jacek Kusion; aroundtown@is.kroll.com; https://deals.is.kroll.com/aroundtown) is the tender agent.
The purpose of the offers was to proactively manage the companys debt maturity profile.
Aroundtown is a Luxembourg-based commercial real estate company.
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