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Otto starts capped €250 million tender offer for three note series
Chicago, Sept. 7 – Otto GmbH & Co. KG started a capped tender offer for up to €250 million from three series of notes, according to an announcement on Monday.
The company is offering to purchase from the following series:
• The €300 million outstanding of 4% subordinated notes (ISIN: XS1853998182) with a first call date in 2025, with an offer to purchase the notes at 110.15, with an acceptance subcap of €150 million for the series;
• The €259,273,000 outstanding 2024 notes (ISIN: XS1625975153), with an offer to purchase at 105.6; and
• The €254,441,000 outstanding 2026 notes (ISIN: XS1979274708), with an offer to purchase at 110.1.
Interest will be paid to the settlement date.
The offer is subject to proration.
The expiration deadline is 10 a.m. ET on Sept. 17.
Results will be announced on Sept. 20.
Settlement is planned for Sept. 22.
The dealer managers for the offer are Commerzbank AG (+49 69 1365 9920, Liability.Management@commerzbank.com), Banco Santander, SA (Tommaso.GrosPietro@santandercib.co.uk, Adam.Crocker@santandercib.co.uk) and UniCredit Bank AG (+49 171 306 6648, corporate.lm@unicredit.de).
The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, otto@lucid-is.com).
The mail order and e-commerce company is based in Hamburg, Germany.
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