Unibail-Rodamco-Westfield announces tender results for five bonds

By Cady Vishniac

Detroit, Dec. 3 – Unibail-Rodamco-Westfield SE has announced the results of its offer to repurchase up to €1 billion of five bonds listed on Euronext Paris and/or the Luxembourg Stock Exchange, according to a press release.

The company has received and plans to accept tenders for a total nominal amount of €544.9 million, broken down accordingly:

• €31.15 million of the €418,380,000 outstanding of its 2.375% bond due Feb. 25, 2021 (ISIN: XS0894202968) where €387,230,000 will remain outstanding after the offer;

• €314.5 million of the €800 million outstanding of its 0.125% bond due May 14, 2021 (ISIN: FR0013332970) where €485.5 million will remain outstanding after the offer;

• €61,174,000 of the €318,515,000 outstanding of its 1.375% bond due Oct. 17, 2022 (ISIN: XS1121177338) where €257,341,000 will remain outstanding after the offer;

• €31,782,000 of the €498,792,000 outstanding of its 2.5% bond due June 12, 2023 (ISIN: XS0942388462) where €467,010,000 will remain outstanding after the offer; and

• €106,252,000 of the €750 million outstanding of its 2.5% bond due Feb. 26, 2024 (ISIN: XS1038708522) where €643,748,000 will remain outstanding after the offer.

The offer expired at 10:00 a.m. ET on Dec. 1.

Settlement will take place on Dec. 4.

Acceptance of tenders was conditioned on the successful dual-tranche issue, announced Nov. 25, consisting of a long six-year bond and an 11-year bond, from which the company intends to fund the tenders.

Unibail-Rodamco-Westfield is a Paris-based real estate investment trust.

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