Summit Properties unit offers to buy up to €40 million of 2025 notes at 94.75

By Mary-Katherine Stinson

Lexington, Ky., Feb. 5 – Summit Properties Ltd.’s wholly owned subsidiary, Summit Luxco Sarl, launched a cash tender offer to purchase up to €40 million of Summit Properties’ outstanding €188,291,000 of 2% senior notes due 2025 (ISIN: XS1757821688), according to multiple notices.

Summit Luxco is offering to purchase the notes at a price of 94.75.

The offer began on Feb. 5 and will expire at 11 a.m. ET on Feb. 9.

The results will be announced on Feb. 12, with settlement expected no later than Feb. 14.

The offeror will only accept tenders with respect to Regulation S notes. No tenders of Rule 144A notes of the same series (ISIN: XS1757821506) will be accepted.

The offeror said it reserves the right to not accept any tenders, not purchase any notes or modify any terms and conditions of the offer, including the maximum tender amount.

Morgan Stanley & Co. International plc (debt_advisory@morganstanley.com) is dealer manager for the tender offer.

Kroll Issuer Services Ltd. (attn.: Arlind Bytyqi / Alessandro Zorza; +44 20 7704 0880; summit@is.kroll.com; https://deals.is.kroll.com/ summit) is the tender agent.

Previously Summit Germany Ltd., the issuer is a German commercial real estate company registered in Guernsey.

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