EQS-Adhoc
Aroundtown SA: Publication of inside information pursuant to Article 17 of Regulation (EU) No 596/2014
EQS-Ad-hoc: Aroundtown SA / Key word(s): Corporate Action/Tender Offer Publication of inside information pursuant to Article 17 of Regulation (EU) No 596/2014 |
Aroundtown launches an exchange offer with 20% tender option to the holders of its GBP and USD denominated perpetual notes
Luxembourg, 22 April 2024 - The Board of Directors of Aroundtown SA (the "Company" and together with its subsidiaries “Aroundtown”) has resolved today to launch a voluntary exchange and tender offer (the “Offer”) to the holders of the GBP 400,000,000 undated subordinated notes (ISIN: XS2017788592) and the USD 700,000,000 undated subordinated notes (ISIN: XS1634523754) ("Existing Perpetual Notes"). Under the Offer, holders of the Existing Perpetual Notes will have the opportunity to exchange existing eligible holdings into either: (i) new perpetual notes and a cash amount for participating in the exchange, or (ii) new perpetual notes, a cash amount for participating in the exchange and a 20% redemption of their exchanged notes for cash.
Holders of the Existing Perpetual Notes with ISIN code XS2017788592 and a current coupon of 4.750% (to reset in June 2024 at the margin (4.377%) plus applicable 5 -year GBP Mid-swap) are invited to exchange their instruments into newly issued undated subordinated notes denominated in GBP with a coupon of 8.625% and a term of 5.25 years until the first reset date (“New GBP Notes”). The issuance of the New GBP Notes is subject to achieving a new issue size of at least £ 150,000,000.
Holders of the Existing Perpetual Notes with the ISIN code XS1634523754 and a current coupon of 7.747% are invited to exchange their instruments into newly issued undated subordinated notes denominated in USD with a coupon of 7.875% and a term of 5.5 years until the first reset date (“New USD Notes”). The issuance of the New USD Notes is subject to achieving a new issue size of at least $ 150,000,000.