REG-Aroundtown SA Aroundtown SA launches exchange offer with 15% tender option to the holders of certain perpetual notes

Aroundtown SAAnnouncement

02/04/2024 07:15

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   Aroundtown SA (IRSH)
   Aroundtown SA launches exchange offer with 15% tender option to the
   holders of certain perpetual notes

   02-Apr-2024 / 08:00 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   Publication of inside  information pursuant  to Article  17 of  Regulation
   (EU) No 596/2014

   Aroundtown launches exchange offer with  15% tender option to the  holders
   of certain perpetual notes

   Luxembourg, 2 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 four of its  Euro denominated outstanding perpetual notes  with
   the ISIN codes XS1508392625,  XS2055106210, XS1752984440 and  XS2027946610
   ("Existing Perpetuals 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 at  the relevant  exchange
   ratio and a  cash amount for  participating in the  exchange, or (ii)  new
   perpetual notes  at  the  relevant  exchange  ratio,  a  cash  amount  for
   participating in  the exchange  and a  15% redemption  of their  exchanged
   notes for cash.

   Under the Offer,  holders of the  Existing Perpetual Notes  with the  ISIN
   code XS1508392625  and  a current  coupon  of  7.078% and  the  ISIN  code
   XS2055106210 and a current  coupon of 3.375% (coupon  of ca. 6.6% at  next
   reset date under current  5-year mid-swap) are  invited to exchange  their
   instruments into newly issued undated subordinated notes with a coupon  of
   7.125% and a term of 6 years until the first reset date. The new notes are
   expected to be rated BBB- by S&P Global Ratings Europe Limited. This  part
   of the  Offer  is  subject  to  achieving a  minimum  new  issue  size  of
   EUR 200,000,000.00.

   In addition, holders of  the Existing Perpetual Notes  with the ISIN  code
   XS1752984440 and a current coupon of 4.542% and the ISIN code XS2027946610
   and a current  coupon of 2.875%  (coupon of  ca. 6.1% at  next reset  date
   under current 5-year mid-swap) are  invited to exchange their  instruments
   into newly issued  undated subordinated notes  with a coupon  of 5% and  a
   term of 5.25 years until the first reset date. The new notes are  expected
   to be rated BBB- by  S&P Global Ratings Europe  Limited. This part of  the
   Offer  is   subject   to  achieving   a   minimum  new   issue   size   of
   EUR 200,000,000.00.

   The offer period will start on 2 April 2024 and end at 5:00 p.m. CET on  9
   April 2024,  unless  extended, withdrawn,  amended  or terminated  by  the
   Company.

   The new undated subordinated notes will  be issued by a subsidiary of  the
   Company, Aroundtown  Finance  S.à r.l.  and  will be  unconditionally  and
   irrevocably guaranteed on  a subordinated  basis by the  Company and  will
   rank pari passu with all other subordinated notes issued or guaranteed  by
   the Company. The newly issued  undated subordinated notes shall be  listed
   on the official  list of  the Luxembourg  Stock Exchange  and admitted  to
   trading on the MTF Market operated by the Luxembourg Stock Exchange.

   Aroundtown aims to recover or maintain the equity content under S&P rating
   methodology.

   The Offer is subject to certain conditions. The details of the Offer  will
   be made available in an Exchange and Tender Offer Memorandum.

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   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (MAR),
   transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           LU1673108939, LU1673108939, XS2114459550, XS1508392625,
                   XS1634523754, XS1752984440, XS2017788592, XS2027946610,
                   XS2055106210, XS2287744721, XS1586386739, XS1639847760,
                   XS1649193403, XS1700429308, XS1715306012, XS1753814141,
                   CH0398677689, XS1761721262, XS1815135352, AU3CB0252955,
                   CA04269KAA12, XS1879567144, XS1877353786, XS1901137106,
                   XS1905592546, CH0460054437, XS1961042915, XS1964701822,
                   XS1966277748, XS1980255779, XS1999746370, XS2023872174,
                   XS2023873149, XS2198981263, XS1843435501, XS2273810510,
                   XS2421195848,
   Category Code:  MSCL
   TIDM:           IRSH
   LEI Code:       529900H4DWG3KWMBMQ39
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   312912
   EQS News ID:    1871015


    
   End of Announcement EQS News Service

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