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Grand City Properties S.A. - Tender Offer (UMDA) - Results

Grand City Properties S.A. announces the result of the cash tender offers to the holders of several series of its outstanding senior notes due 2024, 2025 and 2026.


29 MAY 2023


Full announcement available via Euronext


"Announcement of Results


The Company hereby announces that it will accept for purchase EUR 76,700,000 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 71,738,650.00.


The final results of the Offers are as follows:


Series W Offer


The Company has decided to accept EUR 54,900,000 in aggregate principal amount of the Series W Notes validly tendered. The final results of the Series W Offer are as follows:

Series Acceptance Amount: EUR 54,900,000

Total Purchase Consideration (excluding Accrued Interest): EUR 52,764,900.00


Following the settlement of the Series W Offer, Series W Notes in a principal amount of EUR 149,800,000

will remain outstanding.


Series E Offer


The Company has decided to accept EUR 9,200,000 in aggregate principal amount of the Series E Notes

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

Series Acceptance Amount: EUR 9,200,000

Total Purchase Consideration

(excluding Accrued Interest): EUR 8,491,750.00


Following the settlement of the Series E Offer, Series E Notes in a principal amount of EUR 196,400,000

will remain outstanding.


Series G Offer


The Company has decided to accept EUR 12,600,000 in aggregate principal amount of the Series G Notes

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

Series Acceptance Amount: EUR 12,600,000

Total Purchase Consideration

(excluding Accrued Interest): EUR 10,482,000.00

Following the settlement of the Series G Offer, Series G Notes in a principal amount of EUR 587,400,000

will remain outstanding."

 

Grand City Properties S.A. announces cash tender offers to the holders of several series of its outstanding senior notes due 2024, 2025 and 2026.


22 MAY 2023


Full announcement available via Euronext


"The Board of Directors of Grand City Properties S.A. (the "Company") has decided to offer to the holders of its


(i) EUR 600,000,000 1.7 per cent. Notes due 2024 (ISIN: XS2154325562), issued by the Company (the "Series W Notes");


(ii) EUR 550,000,000 1.5 per cent. Notes due 2025 (ISIN: XS1220083551), issued by the Company (the "Series E Notes"); and


(iii) EUR 600,000,000 1.375 per cent. Notes due 2026 (ISIN: XS1654229373), issued by the Company (the "Series G Notes" and together with the Series W Notes and the Series E 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 22 May 2023 (the "Tender Offer Memorandum") prepared by the Company.


The Offers begin today and will expire at 5:00 p.m. (CEST) on 26 May 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. 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."


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