REG - Globalworth Real Est - Results of Tender Offers

Globalworth Real Estate InvestmentsAnnouncement

27/06/2023 14:30

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RNS Number : 0885E  Globalworth Real Estate Inv Ltd  27 June 2023

27 June 2023

 

NOT FOR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF
AMERICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL. IN
PARTICULAR, THIS ANNOUNCEMENT AND THE TENDER OFFER MEMORANDUM MENTIONED BELOW
SHALL NOT BE DISTRIBUTED, TRANSMITTED OR FORWARDED, DIRECTLY OR INDIRECTLY,
IN, INTO, OR FROM, OR BY USE OF THE MAILS OF, OR BY ANY MEANS OR
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FOREIGN COMMERCE OF, OR ANY FACILITY OF A NATIONAL SECURITIES EXCHANGE OF, THE
UNITED STATES.

 

This announcement shall not constitute, or be deemed to form part of, any
invitation to sell, or any solicitation of an offer to buy, the securities
referred to herein in the United States or any other jurisdiction, nor shall
it (or any part of this announcement) or the fact of its distribution form the
basis of, or be relied upon in connection with, or act as any inducement to
enter into, any contract or commitment.

 

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014. Upon the publication of this announcement, this information is
considered to be in the public domain.

 

Manufacturer target market (MIFID II product governance) will be eligible
counterparties and professional clients only (all distribution channels). No
PRIIPs key information document (KID) has been prepared as not available to
retail in the EEA or the United Kingdom.

 

 

Globalworth Real Estate Investments Limited

("Globalworth" or the "Offeror")

 

Results of cash Tender Offers for Outstanding Notes due 2025 and Outstanding
Notes due 2026

Globalworth (AIM: GWI) announces the results of its invitation announced on 20
June 2023 to holders of its outstanding €550,000,000 3.000 per cent notes
due 2025 (ISIN: XS1799975922) (the "2025 Notes") and €400,000,000 2.950 per
cent notes due 2026 (ISIN: XS2208868914) (the "2026 Notes" and, together with
the 2025 Notes, the "Notes") to tender up to €100,000,000 principal
aggregate amount of their Notes for purchase by the Offeror for cash through
an unmodified Dutch auction procedure (collectively, the "Tender Offers" and
each of them a "Tender Offer").

The Offeror has determined to accept for purchase €100,000,000 in aggregate
principal amount of the 2025 Notes validly tendered pursuant to the Tender
Offers. The aggregate purchase consideration (excluding accrued interest
payments) for the 2025 Notes validly tendered and accepted for purchase
pursuant to the Tender Offers will be €83,171,310, which will be funded by
cash on the Offeror's balance sheet. The Offeror will also pay accrued
interest in respect of the 2025 Notes validly tendered, delivered and accepted
for purchase by the Offeror pursuant to the Tender Offers. In accordance with
the terms set out in the tender offer memorandum dated 20 June 2023 prepared
by the Offeror in connection with the Tender Offers, the Offeror determined
not to accept any of the 2026 Notes tendered pursuant to the Tender Offers.
The final results of the Tender Offer for the 2025 Notes are as follows:

 Description of the Notes                       Maturity Date  ISIN / Common Code        Scaling Factor at the Maximum  Series Acceptance Amount  Purchase Consideration (excluding  Aggregate nominal amount of Notes expected to be outstanding following

                                  settlement of the Tender Offer
                                                                                         Purchase Price                                           Accrued

                                                                                                                                                  Interest

                                                                                                                                                  Payments)
 €550,000,000 3.000 per cent. Notes due 2025    29 March 2025  XS1799975922 / 179997592  61.7736 per cent.              €100,000,000              €83,171,310                         €450,000,000

 

The expected settlement date in respect of the accepted Tender Offer is 29
June 2023.

Citigroup Global Markets Limited and HSBC Continental Europe have been
appointed by the Offeror to act as Dealer Managers and Kroll Issuer Services
Limited as the Tender Agent in connection with the Tender Offers.

For further information, visit www.globalworth.com
(http://www.globalworth.com/)  or contact:

 

Enquiries

 Stamatis Sapkas                                       Tel: +40 732 800 000

 Group Chief Financial Officer

 Panmure Gordon (Nominated Adviser and Joint Broker)   Tel: +44 20 7886 2500

 Dominic Morley

About Globalworth / Note to Editors:

Globalworth is a listed real estate company active in Central and Eastern
Europe, quoted on the AIM-segment of the London Stock Exchange. It has become
the pre-eminent office investor in the CEE real estate market through its
market-leading positions both in Poland and Romania. Globalworth acquires,
develops and directly manages high-quality office and
logistics/light-industrial real estate assets in prime locations, generating
rental income from high quality tenants from around the globe. Managed by over
260 professionals across Cyprus, Guernsey, Poland and Romania, a combined
value of its portfolio is €3.2 billion, as at 31 December 2022.
Approximately 96.4% of the portfolio is in income-producing assets,
predominately in the office sector, and leased to a diversified array of more
than 690 national and multinational corporates. In Poland Globalworth is
present in Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice, while in
Romania its assets span in Bucharest, Timisoara, Constanta, Pitesti, Arad,
Oradea and Targu Mures.

For more information, please visit www.globalworth.com and follow us on
Facebook, Instagram and LinkedIn.

IMPORTANT NOTICE:

 

This announcement does not constitute, or form part of, any invitation to
sell, or any solicitation of an offer to buy, any securities in the United
States or any other jurisdiction, nor shall it (or any part of this
announcement) or the fact of its distribution form the basis of, or be relied
upon in connection with, or act as any inducement to enter into, any contract
or commitment. Recipients of this announcement who intend to sell any
securities are reminded that any such sale must be made solely on the basis of
the tender offer memorandum dated 20 June 2023 prepared by the Offeror in
connection with the Tender Offers, subject to the relevant offer and
distribution restrictions. In certain jurisdictions, the transactions
described above and the distribution of this announcement and other
information in connection with the transactions described above may be
restricted by law and persons into whose possession any document or other
information referred to herein comes should inform themselves about and
observe any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.

 

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