REG - Globalworth Real Est - Tender Offers Launch for 2025 Notes & 2026 Notes

Globalworth Real Estate InvestmentsAnnouncement

20/06/2023 09:30

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RNS Number : 2950D  Globalworth Real Estate Inv Ltd  20 June 2023

FOR IMMEDIATE RELEASE

 

20 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
INSTRUMENTALITY (INCLUDING, WITHOUT LIMITATION, FACSIMILE TRANSMISSION,
TELEPHONE, EMAIL AND OTHER FORMS OF ELECTRONIC COMMUNICATION) OF INTERSTATE OR
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 EEA or the United Kingdom.

 

 

Globalworth Real Estate Investments Limited

("Globalworth" or the "Company")

 

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

Highlights

Globalworth (AIM: GWI), a leading real estate investment company focused on
the CEE region, proposes to purchase an aggregate principal amount of up to
€100,000,000 (or such greater or lesser amount as it may determine in its
sole and absolute discretion) of its outstanding €550,000,000 3.000% notes
due 2025 and €400,000,000 2.950% notes due 2026 through an unmodified Dutch
auction procedure.

 

Tender Offers for Outstanding Notes

The Company announces a tender offer addressed to the holders of its
outstanding €550,000,000 3.000% notes due 2025 and €400,000,000 2.950%
notes due 2026 (the "Tender Offers").

Under the Tender Offers, the holders of the notes due 29 March 2025 (ISIN:
XS1799975922) (the "2025 Notes") and the holders of the notes due 29 July 2026
(ISIN: XS2208868914) (the "2026 Notes" and, together with the 2025 Notes, the
"Outstanding Notes"; each of the 2025 Notes and the 2026 Notes a "Series") are
invited to tender their Outstanding Notes for purchase by the Company for
cash. In respect of any Notes of a Series validly tendered by a holder and
which will be purchased by the Company pursuant to the relevant offer, the
Company will pay a cash purchase price equal to the particular purchase price
specified (or deemed to be specified) by the relevant holder in the relevant
tender instruction, subject to a minimum purchase price of 81.5% for the 2025
Notes and 74.0% for the 2026 Notes.

The Company will determine the aggregate principal amount of 2025 Notes and
2026 Notes which it elects to purchase pursuant to the relevant offer in its
sole and absolute discretion.

As the purchase price applicable to each holder of Notes of the relevant
Series that are accepted for purchase pursuant to the relevant offer is the
offer price in respect of the relevant Notes specified (or deemed to be
specified) by such holder in its tender instruction, the relevant purchase
price payable to each holder of Notes of the same Series which are accepted
for purchase pursuant to the relevant offer will not necessarily be the same.

The Tender Offers are being made on the terms, and subject to the conditions,
contained in the tender offer memorandum dated 20 June 2023 prepared by the
Company in connection with the Tender Offers, which will be made available to
holders of the Outstanding Notes, subject to the offer and distribution
restrictions.

Rationale for the Tender Offers

The purpose of the Tender Offers is, among other things, to proactively manage
the Company's debt maturity profile.

Citigroup Global Markets Limited and HSBC Continental Europe have been
appointed by the Company 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 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 Company 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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