DGAP-News

Aroundtown SA announces comprehensive bond buyback to optimize its debt schedule

DGAP-News: Aroundtown SA / Key word(s): Tender Offer/Bond Aroundtown SA announces comprehensive bond buyback to optimize its debt schedule 23.09.2021 / 08:39 The issuer is solely responsible for the content of this announcement. THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS

AROUNDTOWN SA ANNOUNCES COMPREHENSIVE BOND BUYBACK TO OPTIMIZE ITS DEBT SCHEDULE

23 SEPTEMBER 2021.

Aroundtown SA (the "Company") announced today that it has commenced cash tender offers across various of its bonds denominated in GBP, EUR and CHF (collectively, the "Offers", details listed below) that have a total principal amount outstanding of approximately €1.11bn.

Series E, Q, O Offers (EUR / GBP):

Series	ISIN	Description of Notes	Outstanding Principal Amount
Series E	XS1449707055	€650m 1.500% notes due 2024	€171.5m
Series Q	XS1857310814	£400m 3.250% notes due 2027	£219.3m
Series O	XS1815135352	€500m 2.000% notes due 2026	€500m

 

Series X Offer (CHF):

Series	ISIN	Description of Notes	Outstanding Principal Amount
Series X	CH0460054437	CHF200m 1.720% notes due 2026	CHF200m

 

The purpose of the Offers is to utilize the proceeds from the successful disposals to pro-actively optimize Aroundtown's debt schedule in order to extend the average debt maturity and lower the cost of debt. In the first half of 2021, Aroundtown completed disposals in the amount of approx. €1.1bn above book value and the liquidity position was €3.2bn as per June 30^th. Results of the Offers will be announced as soon as reasonably practicable following the expiration of the Offers.