Aroundtown SA (DE:AT1) has released an update.
Aroundtown SA has announced a voluntary exchange and tender offer for its GBP and USD denominated perpetual notes, allowing note holders to swap for new notes with a cash option and a potential 20% cash redemption. The exchange includes attractive new GBP notes with an 8.625% coupon and new USD notes with a 7.875% coupon, aiming to maintain equity content ratings. The offer period is set from April 22 to April 30, 2024, with the new notes guaranteed by Aroundtown and listed on the Luxembourg Stock Exchange.
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