Lar Espana announces final tender offer results for two notes

Chicago, Jan. 17 – Lar Espana Real Estate Socimi, SA announced the results of a capped tender offer that was conducted as an unmodified Dutch auction, according to a release.

The company was offering to buy up to €100 million total consideration from its outstanding €400 million 1.75% senior green notes due 2026 (ISIN: XS2363989273) and €300 million 1.843% senior green notes due 2028 (ISIN: XS2403391886).

The company is accepting €98 million principal amount of the notes due 2026 and €12 million principal amount of the notes due 2028.

The total purchase consideration for both series is €90,548,500.

Valid tender instructions were received for €143.6 million principal amount of the notes, across both non-competitive and competitive tender instructions.

The minimum purchase price was 81.75 for the 2026 notes and 72.5 for the 2028 notes.

Settlement is expected for Jan. 19.

J.P. Morgan SE (+44 20 7134 2468; liability_management_EMEA@jpmorgan.com) is the dealer manager for the offer.

Kroll Issuer Services Ltd. (+44 20 7704 0880; attn.: David Shilson; lar@is.kroll.com; https://deals.is.kroll.com/lar) is the tender agent.

Lar Espana manages and invests in real estate assets, with offices in Madrid and Barcelona.

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