top of page

Aroundtown SA - Tender Offer & Exchange Offer 2024 (2) (XS) - Launch

Aroundtown SA, announces results of Tender Offer and Exchange Offer - XS2017788592 - XS1634523754

22 APRIL 2024


Full announcement, including disclaimers and restrictions, available via Euronext

Scroll below for previous Offers related to Aroundtown S.A.


Announces

the launch of an invitation to Qualifying Holders of the outstanding £400,000,000 Undated Subordinated Notes with a First Reset Date in 2024 issued by the Company (the “GBP Notes”)

to either:


(i) offer to exchange any and all of the GBP Notes for exchange consideration comprising (a) newly issued GBP-denominated undated subordinated notes subject to interest rate reset with a first call date in 2029, issued by Aroundtown Finance S.à r.l. (the “New Notes Issuer”) and unconditionally and irrevocably guaranteed on a subordinated basis by the Company (the “New GBP Notes”) and (b) the Cash Amount (as defined and further described in the Exchange and Tender Offer Memorandum) (the “GBP Exchange Offer”); or


(ii) offer to exchange 80% in aggregate nominal amount of any and all of the GBP Notes in the GBP Exchange Offer and tender 20% in aggregate nominal amount of any and all of the GBP Notes for purchase by the Company for the GBP Notes Tender Consideration (as defined and further described in the Exchange and Tender Offer Memorandum) (the “GBPTender Offer” and, when so combined with the GBP Exchange Offer, the “GBP Exchange and Tender Offer”),


such invitation, the “GBP Offers”; and


the launch of an invitation to Qualifying Holders of the outstanding $700,000,000 Undated Subordinated Notes subject to Interest Rate Reset with a First Call Date in 2023 issued by AT Securities B.V. and unconditionally and irrevocably guaranteed on a subordinated basis by the Company (the “USD Notes” and, together with the GBP Notes, the “Existing Notes”)


to either:


(i) offer to exchange any and all of the USD Notes for exchange consideration comprising (a) newly issued USD-denominated undated subordinated notes subject to interest rate reset with a first call date in 2029, issued by the New Notes Issuer and unconditionally and irrevocably guaranteed on a subordinated basis by the Company (the “New USD Notes”) and (b) the Cash Amount (as defined and further described in the Exchange and Tender Offer Memorandum) (the “USD Exchange Offer”); or


(ii) offer to exchange 80% in aggregate nominal amount of any and all of the USD Notes in the USD Exchange Offer and tender 20% in aggregate nominal amount of any and all of the USD Notes for purchase by the Company for the USD Notes Tender Consideration (as defined and further described in the Exchange and Tender Offer Memorandum) (the “USD Tender Offer” and, when so combined with the USD Exchange Offer, the “USD Exchange and Tender Offer”), such invitation, the “USD Offers” and, together with the GBP Offers, the “Offers”


...



...





...


"Rationale for the Offers


Hybrid instruments are a key component of the Company’s long-term capital structure and help support its credit rating and leverage metrics, which in turn remain important for the corporate strategy.


Following careful evaluation and taking into account cost and market conditions for a new issuance, the Company has thus far elected not to exercise its option to call certain of the existing hybrid notes at their respective first reset dates and thus lost the equity credit attached to these notes from the rating agencies.


Considering the interest of all stakeholders, and with the goal to regain equity credit on such hybrid notes and support its rating matrix, the Company has decided to offer an alternative to investors in eligible outstanding sterling and US dollar denominated hybrid notes.


Investors therefore have the opportunity to participate in a voluntary exchange of existing eligible holdings into either: (i) new hybrid notes, and a cash amount for participating in the exchange, or (ii) new hybrid notes, a cash amount for participating in the exchange, and a partial redemption of their exchanged notes for cash.


The GBP Exchange Offer is subject to achieving a minimum new issue size of £150,000,000.


The USD Exchange Offer is subject to achieving a minimum new issue size of $150,000,000.


The New GBP Notes will have an initial rate of interest of 8.625% until their First Reset Dates (i.e. after 5.25 years) and thereafter a rate of interest which amounts to the sum of (a) the prevailing 5-year Gilt rate for each relevant period plus (b) the initial margin and (c) relevant step-ups.


The New USD Notes will have an initial rate of interest of 7.875% until their First Reset Dates (i.e. after 5.5 years) and thereafter a rate of interest which amounts to the sum of (a) the prevailing 5-year Treasury rate for each relevant period plus (b) the initial margin and (c) relevant step-ups."


...

 
 

Aroundtown SA, announces results of Tender Offer and Exchange Offer - XS1508392625 - XS2055106210 - XS1752984440 - XS2027946610

10 APRIL 2024


Full announcement, including disclaimers and restrictions, available via Luxse

Scroll below for previous Offers related to Aroundtown S.A.


...



...


 
Aroundtown SA, announces Tender Offer and Exchange Offer - XS1508392625 - XS2055106210 - XS1752984440 - XS2027946610

02 APRIL 2024


Full announcement, including disclaimers and restrictions, available via Euronext

Scroll below for previous Offers related to Aroundtown S.A.


"Announces

the launch of an invitation to Qualifying Holders of the outstanding €600,000,000 Undated

Subordinated Notes subject to Interest Rate Reset with a First Call Date in 2023 issued by ATF

Netherlands B.V. and unconditionally and irrevocably guaranteed on a subordinated basis by the

Company (the “ATF Notes”) and €600,000,000 Undated Subordinated Notes subject to Interest Rate

Reset with a First Call Date in 2024 issued by the Company and originally issued by TLG Finance

S.àr.l. (the “3.375% Notes”)

to either:

(i) offer to exchange any and all of the ATF Notes and/or the 3.375% Notes for exchange consideration

comprising (a) newly issued euro-denominated undated subordinated notes subject to interest rate reset

with a first call date in 2030, issued by Aroundtown Finance S.à r.l. (the “New Notes Issuer”) and

unconditionally and irrevocably guaranteed on a subordinated basis by the Company (the “New NC6

EUR Notes”) and (b) the Cash Amount (as defined and further described in the Exchange and Tender

Offer Memorandum) (the “NC6 EUR Exchange Offer”); or

(ii) offer to exchange 85% in aggregate nominal amount of any and all of the ATF Notes and/or the

3.375% Notes in the NC6 EUR Exchange Offer and tender 15% in aggregate nominal amount of any

and all of the ATF Notes and/or the 3.375% Notes for purchase by the Company for the Tender

Consideration (as defined and further described in the Exchange and Tender Offer Memorandum) (the

“NC6 EUR Tender Offer” and, when so combined with the NC6 EUR Exchange Offer, the “NC6 EUR

Exchange and Tender Offer”),

such invitation, the “NC6 EUR Offers”; and

the launch of an invitation to Qualifying Holders of the outstanding €400,000,000 Undated

Subordinated Notes subject to Interest Rate Reset with a First Call Date in 2024 issued by the

Company (the “4.542% Notes”) and €500,000,000 Undated Subordinated Notes subject to Interest Rate

Reset with a First Reset Date in 2025 issued by the Company (the “2.875% Notes” and, together with

the ATF Notes, the 3.375% Notes and the 4.542 Notes, the “Existing Notes”)

to either:

(i) offer to exchange any and all of the 4.542% Notes and/or the 2.875% Notes for exchange

consideration comprising (a) newly issued euro-denominated undated subordinated notes subject to

interest rate reset with a first call date in 2029, issued by the New Notes Issuer and unconditionally and

irrevocably guaranteed on a subordinated basis by the Company (the “New NC5.25 EUR Notes”) and

(b) the Cash Amount (as defined and further described in the Exchange and Tender Offer

Memorandum) (the “NC5.25 EUR Exchange Offer”); or

(ii) offer to exchange 85% in aggregate nominal amount of any and all of the 4.542% Notes and/or the

2.875% Notes in the NC5.25 EUR Exchange Offer and tender 15% in aggregate nominal amount of any

and all of the 4.542% Notes and/or the 2.875% Notes for purchase by the Company for the Tender

Consideration (as defined and further described in the Exchange and Tender Offer Memorandum) (the

“NC5.25 EUR Tender Offer” and, when so combined with the NC5.25 EUR Exchange Offer, the

“NC5.25 EUR Exchange and Tender Offer”),

such invitation, the “NC5.25 EUR Offers” and, together with the NC6 EUR Offers, the “Offers”.


...


"A summary of the terms of the Offers appears below:



* Subject to the NC6 EUR Exchange Minimum Participation Requirement, if a Qualifying Holder validly submits an Instruction Notice specifying

that it is participating in the NC6 EUR Exchange Offer only, 100% of the aggregate nominal amount of ATF Notes and/or the 3.375% Notes

validly offered by such Qualifying Holder and accepted by the Company will be treated as being validly offered for exchange and will therefore

be included in the NC6 EUR Exchange Offer and used to calculate the NC6 EUR Exchange Consideration due to such Qualifying Holder. Subject

to the NC6 EUR Exchange and Tender Minimum Participation Requirement, if a Qualifying Holder validly submits an Instruction Notice

specifying that it is participating in the NC6 EUR Exchange and Tender Offer, 85% of the aggregate nominal amount of ATF Notes and/or the

3.375% Notes validly offered by such Qualifying Holder and accepted by the Company will be treated as being validly offered for exchange and

will therefore be included in the NC6 EUR Exchange Offer and used to calculate the NC6 EUR Exchange Consideration due to such Qualifying

Holder, with the remaining 15% in aggregate nominal amount of ATF Notes and/or the 3.375% Notes being treated as validly tendered for

purchase and therefore included in the NC6 EUR Tender Offer and used to calculate the Tender Consideration due to such Qualifying Holder.

For the avoidance of doubt, the NC6 EUR Tender Offer is solely a component of the NC6 EUR Exchange and Tender Offer and it is not possible

for a Qualifying Holder to participate solely in the NC6 EUR Tender Offer. In addition to any cash amount to be paid to each Qualifying Holder

as part of the Offer Consideration, the Company will pay or procure the payment of the relevant Accrued Interest Amount (as defined and further

described herein) in cash.

** Accepted for Exchange refers to Existing Notes validly offered for exchange by a Qualifying Holder in the NC6 EUR Exchange Offer and

accepted and exchanged by the Company.

*** Accepted for Tender refers to Existing Notes validly tendered by a Qualifying Holder in the NC6 EUR Tender Offer and accepted and

purchased by the Company.


...


* Subject to the NC5.25 EUR Exchange Minimum Participation Requirement, if a Qualifying Holder validly submits an Instruction Notice

specifying that it is participating in the NC5.25 EUR Exchange Offer only, 100% of the aggregate nominal amount of 4.542% Notes and/or the

2.875% Notes validly offered by such Qualifying Holder and accepted by the Company will be treated as being validly offered for exchange and

will therefore be included in the NC5.25 EUR Exchange Offer and used to calculate the NC5.25 EUR Exchange Consideration due to such

Qualifying Holder. Subject to the NC5.25 EUR Exchange and Tender Minimum Participation Requirement, if a Qualifying Holder validly submits

an Instruction Notice specifying that it is participating in the NC5.25 EUR Exchange and Tender Offer, 85% of the aggregate nominal amount of

4.542% Notes and/or the 2.875% Notes validly offered by such Qualifying Holder and accepted by the Company will be treated as being validly

offered for exchange and will therefore be included in the NC5.25 EUR Exchange Offer and used to calculate the NC5.25 EUR Exchange

Consideration due to such Qualifying Holder, with the remaining 15% in aggregate nominal amount of 4.542% Notes and/or the 2.875% Notes

being treated as validly tendered for purchase and therefore included in the NC5.25 EUR Tender Offer and used to calculate the Tender

Consideration due to such Qualifying Holder. For the avoidance of doubt, the NC5.25 EUR Tender Offer is solely a component of the NC5.25

EUR Exchange and Tender Offer and it is not possible for a Qualifying Holder to participate solely in the NC5.25 EUR Tender Offer. In addition

to any cash amount to be paid to each Qualifying Holder as part of the Offer Consideration, the Company will pay or procure the payment of the

relevant Accrued Interest Amount (as defined and further described herein) in cash.

** Accepted for Exchange refers to Existing Notes validly offered for exchange by a Qualifying Holder in the NC5.25 EUR Exchange Offer and

accepted and exchanged by the Company.

*** Accepted for Tender refers to Existing Notes validly tendered by a Qualifying Holder in the NC5.25 EUR Tender Offer and accepted and

purchased by the Company.


1 Of which €5,500,000 is held in treasury.


...


"Rationale for the Offers


Hybrid instruments are a key component of the Company’s long-term capital structure and help support its

credit rating and leverage metrics, which in turn remain important for the corporate strategy.


Following careful evaluation and taking into account cost and market conditions for a new issuance, the

Company has thus far elected not to exercise its option to call certain of the existing hybrid notes at their

respective first reset dates and thus lost the equity credit attached to these notes from the rating agencies.

Considering the interest of all stakeholders, and with the goal to regain equity credit on such hybrid notes and

support its rating matrix, the Company has decided to offer an alternative to investors in eligible outstanding

euro denominated hybrid notes.


Investors therefore have the opportunity to participate in a voluntary exchange of existing eligible holdings into

either: (i) new hybrid notes at the relevant exchange ratio, and a cash amount for participating in the exchange,

or (ii) new hybrid notes at the relevant exchange ratio, a cash amount for participating in the exchange, and a

partial redemption of their exchanged notes for cash.


The NC6 Exchange Offer is subject to achieving a minimum new issue size of €200,000,000. The NC5.25

Exchange Offer is subject to achieving a minimum new issue size of €200,000,000.


The new hybrid notes will have an initial rate of interest of 5% and 7.125%, respectively, until their First Reset

Dates (i.e., after 5.25 and 6 years, respectively) and thereafter a rate of interest which amounts to the sum of (a)

the prevailing 5-year Euro Mid-Swaps for each relevant period plus (b) the initial margin and (c) relevant stepups."


...


 

 

Aroundtown Real Estate Limited, a subsidiary of Aroundtown SA, announces the result of the cash tender offers to the holders of several series of outstanding Aroundtown SA senior notes due 2029 and 2031.


12 JULY 2023


Full announcement available via EURONEXT


...


"Announcement of Results


The Company hereby announces that it will accept for purchase an aggregate principal amount of Notes validly tendered pursuant to the Offers - converted (where applicable) into the USD Equivalent at the Applicable GBP / USD Exchange Rate1 – of USD 77,376,248. The total purchase consideration for Notes validly tendered and accepted for purchase (excluding Accrued Interest in respect of such Notes) comprises USD 32,147,260.00 in respect of the Series 18 Notes, GBP 9,703,006.002 in respect of the Series 4 Notes and GBP 7,036,868.003 in respect of the Series 20 Notes.


1 The Applicable GBP / USD Exchange Rate prevailing at 5:00 p.m. CEST on 11 July 2023 was USD 1.28965 per GBP 1.00.

2 USD 12,513,481.69 when converted into the USD Equivalent at the Applicable GBP / USD Exchange Rate.

3 USD 9,075,096.82 when converted into the USD Equivalent at the Applicable GBP / USD Exchange Rate.


The final results of the Offers are as follows:


Series 18 Offer


The Company has decided to accept USD 43,029,000 in aggregate principal amount of the Series 18 Notes validly tendered. The final results of the Series 18 Offer are as follows:


Series Acceptance Amount: USD 43,029,000

Total Purchase Consideration (excluding Accrued Interest): USD 32,147,260.00


Series 4 Offer


The Company has decided to accept GBP 15,287,000 in aggregate principal amount of the Series 4 Notes validly tendered. The final results of the Series 4 Offer are as follows:


Series Acceptance Amount: GBP 15,287,000

Total Purchase Consideration (excluding Accrued Interest): GBP 9,703,006.00


Series 20 Offer


The Company has decided to accept GBP 11,346,000 in aggregate principal amount of the Series 20 Notes validly tendered. The final results of the Series 20 Offer are as follows:


Series Acceptance Amount: GBP 11,346,000

Total Purchase Consideration (excluding Accrued Interest): GBP 7,036,868.00"


...

 

Aroundtown Real Estate Limited, a subsidiary of Aroundtown SA, announces cash tender offers to the holders of several series of outstanding Aroundtown SA senior notes due 2029 and 2031


05 JULY 2023


Full announcement available via EURONEXT


"The Board of Directors of Aroundtown Real Estate Limited (the "Company"), a subsidiary of Aroundtown SA, has decided to offer to the holders of the


(i) USD 600,000,000 5.375 per cent. Notes due 2029 (ISIN: XS1964701822), issued by Aroundtown SA (the "Series 18 Notes");


(ii) GBP 500,000,000 3.000 per cent. Notes due 2029 (ISIN: XS1700429308), issued by Aroundtown SA (the "Series 4 Notes"); and


(iii) GBP 400,000,000 3.625 per cent. Notes due 2031 (ISIN: XS1980255779), issued by Aroundtown SA (the "Series 20 Notes", and together with the Series 18 Notes and the Series 4 Notes, the "Notes" and each a "Series"),

to tender the Notes for purchase by the Company for cash (the "Offers" and each such invitation, an "Offer").

The Offers shall be subject to the terms and conditions set out in the tender offer memorandum dated 5 July 2023 (the "Tender Offer Memorandum") prepared by the Company.


Capitalized terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.


Rationale for the Offers

The rationale of the Offers is, amongst other things, to proactively manage the debt profile of Aroundtown SA.


Material pricing terms

"The Offers begins today and will expire at 5:00 p.m. (CEST) on 11 July 2023 (the "Expiration Deadline"), unless extended, withdrawn, re-opened or terminated at the sole and absolute discretion of the Company as provided in the Tender Offer Memorandum."


...


 

***PREVIOUS DEALS BELOW***


 

Aroundtown Real Estate Limited, a subsidiary of Aroundtown SA, announces results of cash tender offers to the holders of several series of outstanding Aroundtown SA senior notes due 2025, 2026 and 2027


08 JUNE 2023


Full announcement available via EURONEXT


...


"Announcement of Results The Company hereby announces that it will increase the Maximum Acceptance Amount from EUR 350,000,000 and accept for purchase EUR 362,800,000 in aggregate principal amount of Notes validly tendered pursuant to the Offers. The total purchase consideration for Notes validly tendered and accepted for purchase (excluding Accrued Interest in respect of such Notes) is EUR 272,397,850.00.


The final results of the Offers are as follows:

Series K Offer The Company has decided to accept EUR 28,200,000 in aggregate principal amount of the Series K Notes validly tendered. The final results of the Series K Offer are as follows:

Series Acceptance Amount: EUR 28,200,000

Total Purchase Consideration (excluding AccruedInterest): EUR 25,117,300.00

Series 32 Offer The Company has decided to accept EUR 27,200,000 in aggregate principal amount of the Series 32 Notes validly tendered. The final results of the Series 32 Offer are as follows:

Series Acceptance Amount: EUR 27,200,000

Total Purchase Consideration (excluding AccruedInterest): EUR 23,241,800.00

Series I Offer The Company has decided to accept EUR 10,100,000 in aggregate principal amount of the Series I Notes validly tendered. The final results of the Series I Offer are as follows:

Series Acceptance Amount: EUR 10,100,000

Total Purchase Consideration (excluding AccruedInterest): EUR 8,655,250.00

Series 36 Offer The Company has decided to accept EUR 30,200,000 in aggregate principal amount of the Series 36 Notes validly tendered. The final results of the Series 36 Offer are as follows:

Series Acceptance Amount: EUR 30,200,000

Total Purchase Consideration (excluding AccruedInterest): EUR 24,236,700.00

Series 38 Offer The Company has decided to accept EUR 58,300,000 in aggregate principal amount of the Series 38 Notes validly tendered. The final results of the Series 38 Offer are as follows:

Series Acceptance Amount: EUR 58,300,000

Total PurchaseConsideration: EUR 43,639,900.00

Series O Offer The Company has decided to accept EUR 500,000 in aggregate principal amount of the Series O Notes validly tendered. The final results of the Series O Offer are as follows: SeriesAcceptance Amount: EUR 500,000

Total Purchase Consideration

(excluding Accrued Interest): EUR 407,500.00


Series 39 Offer


The Company has decided to accept EUR 208,300,000 in aggregate principal amount of the Series 39 Notes validly tendered. The final results of the Series 39 Offer are as follows:


Series Acceptance Amount: EUR 208,300,000

Total Purchase Consideration

(excluding AccruedInterest): EUR 147,099,400.00"


...

 

Aroundtown Real Estate Limited, a subsidiary of Aroundtown SA, announces cash tender offers to the holders of several series of outstanding Aroundtown SA senior notes due 2025, 2026 and 2027


01 JUNE 2023


Full announcement available via EURONEXT


"The Board of Directors of Aroundtown Real Estate Limited (the "Company"), a subsidiary of Aroundtown SA, has decided to offer to the holders of the


(i) EUR 700,000,000 1.000 per cent. Notes due 2025 (ISIN: XS1715306012), issued by Aroundtown SA (the "Series K Notes");


(ii) EUR 800,000,000 0.625 per cent. Notes due 2025 (ISIN: XS2023872174), issued by Aroundtown SA (the "Series 32 Notes");


(iii) EUR 500,000,000 1.875 per cent. Notes due 2026 (ISIN: XS1649193403), issued by Aroundtown SA (the "Series I Notes");


(iv) EUR 600,000,000 1.500 per cent. Notes due 2026 (ISIN: XS1843435501) of Aroundtown SA, originally issued by TLG Immobilien AG (the "Series 36 Notes");


(v) EUR 1,000,000,000 0.000 per cent. Notes due 2026 (ISIN: XS2273810510), issued by Aroundtown SA (the "Series 38 Notes");


(vi) EUR 500,000,000 2.00 per cent. Notes due 2026 (ISIN: XS1815135352), issued by Aroundtown SA (the "Series O Notes"); and


(vii) EUR 1,250,000,000 0.375 per cent. Notes due 2027 (ISIN: XS2421195848), issued by Aroundtown SA (the "Series 39 Notes", and together with the Series K Notes, the Series 32 Notes, the Series I Notes, the Series 36 Notes, the Series 38 Notes and the Series O Notes, the "Notes"and each a "Series")


to tender the Notes for purchase by the Company for cash (the "Offers" and each such invitation, an "Offer").


The Offers shall be subject to the terms and conditions set out in the tender offer memorandum dated 1 June 2023 (the "Tender Offer Memorandum") prepared by the Company.

Capitalized terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.


Rationale for the Offers

The rationale of the Offers is, amongst other things, to proactively manage the debt maturity profile of Aroundtown SA.



...

 

****PREVIOUS OFFERS BELOW****

 

Aroundtown SA announces the result of the cash tender offers to the holders of several series of its outstanding senior notes due 2025 and 2026.


05 APRIL 2023


Full announcement available via EURONEXT.


"Announcement of Results


The Company hereby announces that it will increase the Maximum Acceptance Amount from EUR 400,000,000 and accept for purchase EUR 438,300,000 in aggregate principal amount of Notes validly tendered pursuant to the Offers.


The total purchase consideration for Notes validly tendered and accepted for purchase (excluding Accrued Interest in respect of such Notes) is EUR 347,842,400.00.


The final results of the Offers are as follows:


Series K Offer


The Company has decided to accept EUR 66,500,000 in aggregate principal amount of the Series K Notes validly tendered. The final results of the Series K Offer are as follows:


Series Acceptance Amount: EUR 66,500,000

Total Purchase Consideration (excluding Accrued Interest): EUR 57,821,000.00


Following the settlement of the Series K Offer, Series K Notes in a principal amount of EUR 538,900,000 will remain outstanding.


Series 32 Offer


The Company has decided to accept EUR 115,800,000 in aggregate principal amount of the Series 32 Notes validly tendered. The final results of the Series 32 Offer are as follows:


Series Acceptance Amount: EUR 115,800,000

Total Purchase Consideration (excluding Accrued Interest): EUR 96,209,000.00


Following the settlement of the Series 32 Offer, Series 32 Notes in a principal amount of EUR 638,400,000 will remain outstanding.


Series I Offer


The Company has decided to accept EUR 19,200,000 in aggregate principal amount of the Series I Notes validly tendered. The final results of the Series I Offer are as follows:


Series Acceptance Amount: EUR 19,200,000

Total Purchase Consideration (excluding Accrued Interest): EUR 15,794,000.00


Following the settlement of the Series I Offer, Series I Notes in a principal amount of EUR 231,800,000 will remain outstanding.


Series 36 Offer


The Company has decided to accept EUR 37,700,000 in aggregate principal amount of the Series 36 Notes validly tendered. The final results of the Series 36 Offer are as follows:


Series Acceptance Amount: EUR 37,700,000

Total Purchase Consideration (excluding Accrued Interest): EUR 29,458,200.00


Following the settlement of the Series 36 Offer, Series 36 Notes in a principal amount of EUR 562,300,000 will remain outstanding.


Series 38 Offer


The Company has decided to accept EUR 192,200,000 in aggregate principal amount of the Series 38 Notes validly tendered. The final results of the Series 38 Offer are as follows:


Series Acceptance Amount: EUR 192,200,000

Total Purchase Consideration: EUR 143,247,200.00


Following the settlement of the Series 38 Offer, Series 38 Notes in a principal amount of EUR 807,800,000 will remain outstanding.


Series O Offer


The Company has decided to accept EUR 6,900,000 in aggregate principal amount of the Series O Notes validly tendered. The final results of the Series O Offer are as follows:


Series Acceptance Amount: EUR 6,900,000

Total Purchase Consideration (excluding Accrued Interest): EUR 5,313,000.00


Following the settlement of the Series O Offer, Series O Notes in a principal amount of EUR 298,300,000 will remain outstanding.


Settlement and Payment


The Settlement Date for the Offers is expected to be 6 April 2023"

 

Aroundtown SA announces cash tender offers to the holders of several series of its outstanding senior notes due 2025 and 2026.


29 MARCH 2023


Full announcement available via EURONEXT.


"The Board of Directors of Aroundtown SA (the "Company") has decided to offer to the holders of its:


(i) EUR 700,000,000 1.000 per cent. Notes due 2025 (ISIN: XS1715306012), issued by the Company (the "Series K Notes");


(ii) EUR 800,000,000 0.625 per cent. Notes due 2025 (ISIN: XS2023872174), issued by the Company (the "Series 32 Notes");


(iii) EUR 500,000,000 1.875 per cent. Notes due 2026 (ISIN: XS1649193403), issued by the Company (the "Series I Notes");


(iv) EUR 600,000,000 1.500 per cent. Notes due 2026 (ISIN: XS1843435501) of the Company, originally issued by TLG Immobilien AG (the "Series 36 Notes");


(v) EUR 1,000,000,000 0.000 per cent. Notes due 2026 (ISIN: XS2273810510), issued by the Company (the "Series 38 Notes");


(vi) EUR 500,000,000 2.00 per cent. Notes due 2026 (ISIN: XS1815135352), issued by the Company (the "Series O Notes" and together with the Series K Notes, the Series 32 Notes, the Series I Notes, the Series 36 Notes and the Series 38 Notes, the "Notes" and each a "Series")


to tender the Notes for purchase by the Company for cash (the "Offers" and each such invitation, an "Offer").


The Offers shall be subject to the terms and conditions set out in the tender offer memorandum dated 29 March 2023 (the "Tender Offer Memorandum") prepared by the Company.

Capitalized terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum."


...


"Rationale for the Offers


The rationale of the Offers is, amongst other things, to proactively manage the Company's debt maturity profile."


...



 

**PREVIOUS OFFER BELOW**

 

Aroundtown SA announces the result of the offers to the holders of its EUR 700,000,000 1.000 per cent. Notes due 2025 (ISIN: XS1715306012) and EUR 800,000,000 0.625 per cent. Notes due 2025 (ISIN: XS2023872174) to tender such Notes for purchase for cash.



18 JANUARY 2023


Full announcement available via EURONEXT.



"Announcement of Results


The Company hereby announces that it will accept for purchase EUR 110,500,000.00 in aggregate principal amount of Notes validly tendered pursuant to the Offers. The total purchase consideration for Notes validly tendered and accepted for purchase (excluding Accrued Interest in respect of such Notes) is EUR 95,831,300.00.

The final results of the Offers are as follows:


Series K Offer


The Company has decided to accept EUR 82,700,000.00 in aggregate principal amount of the Series K Notes validly tendered (Scaling Factor for the Notes offered at the highest price the Company accepted: 50%). The final results of the Series K Offer are as follows:


Series Acceptance Amount: EUR 82,700,000.00

Total Purchase Consideration (excluding Accrued Interest): EUR 72,538,850.00


Following the settlement of the Series K Offer, Series K Notes in a principal amount of EUR 605,400,000.00 will remain outstanding.


Series 32 Offer


The Company has decided to accept EUR 27,800,000.00 in aggregate principal amount of the Series 32

Notes validly tendered. The final results of the Series 32 Offer are as follows:


Series Acceptance Amount: EUR 27,800,000.00


Total Purchase Consideration (excluding Accrued Interest): EUR 23,292,450.00


Following the settlement of the Series 32 Offer, Series 32 Notes in a principal amount of EUR 754,200,000.00 will remain outstanding."

 

Aroundtown SA announces offers to the holders of its EUR 700,000,000 1.000 per cent. Notes due 2025 (ISIN: XS1715306012) and EUR 800,000,000 0.625 per cent. Notes due 2025 (ISIN: XS2023872174) to tender such Notes for purchase for cash.


11 JANUARY 2023


Full announcement available via EURONEXT.


"The Board of Directors of Aroundtown SA (the "Company") has decided to offer to the holders of its (i) EUR 700,000,000 1.000 per cent. Notes due 2025 (ISIN: XS1715306012) (the "Series K Notes") to tender the Series K Notes for purchase by the Company for cash (the "Series K Offer") and (ii) EUR 800,000,000 0.625 per cent. Notes due 2025 (ISIN: XS2023872174) (the "Series 32 Notes" and, together with the Series K Notes, the "Notes" and each a "Series") to tender the Series 32 Notes for purchase by the Company for cash (the "Series 32 Offer" and, together with the Series K Offer, the "Offers").


The Offers shall be subject to the terms and conditions set out in the tender offer memorandum dated 11 January 2023 (the "Tender Offer Memorandum") prepared by the Company.


Capitalized terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum."


...


"Rationale for the Offers


The rationale of the Offers is, amongst other things, to proactively manage the Company's debt maturity profile."

Tags:

18 views0 comments

Comments


bottom of page