CTP provides results of tender offer for notes due 2023 and 2025

Chicago, Jan. 21 – Emerging markets-focused CTP NV gave the tender offer results for its €400 million outstanding 5/8% notes due 2023 (ISIN: XS2264194205) and the €500,002,000 outstanding 2 1/8% notes due 2025 (ISIN: XS2238342484), according to an announcement.

The offer, which started on Jan. 13, was originally capped at €150 million.

As of the expiration deadline at 11 a.m. ET on Jan. 19, the company received tenders for a total of €168,189,000 for the 2025 notes. The company did not say how many tenders were received for the 2023 notes.

CTP lifted the cap to accept all of the 2025 notes. No 2023 notes will be accepted for purchase.

Noteholders who tendered their 2025 notes will receive €1,053.75 per €1,000 note. Noteholders would have received €1,102.75 per €1,000 note if any of the 2023 notes had been accepted for purchase. Interest will also be paid.

After the tender offer there will still be €400 million of the 2023 notes and a refreshed total of €331,813,000 for the 2025 notes.

There was a financing condition for the offer. Tendering noteholders may have received priority in the allocation of the new notes.

The settlement date is Jan. 24.

Dealer managers for the offer were Citigroup Global Markets Europe AG (+44 20 7986 8969, liabilitymanagement.europe@citi.com), Erste Group Bank AG (+43 501009 84020, dcmorigination0536@erstegroup.com), Goldman Sachs Bank Europe SE (+49 69 7532 1615, liabilitymanagement.eu@gs.com), J.P. Morgan AG (+44 20 7134 2468, em_europe_lm@jpmorgan.com), Raiffeisen Bank International AG (+43 1 71707 3727, rbi-tm@rbinternational.com, bondsyndication@rbinternational.com), Societe Generale (+33 1 42 13 32 40, liability.management@sgcib.com) and UniCredit Bank AG (+49 171 306 6648, corporate.lm@unicredit.de).

Lucid Issuer Services Ltd. is the tender agent (+44 20 7704 0880, ctp@lucid-is.com, https://deals.lucid-is.com/ctp).

CTP is a real estate company that owns and develops business parks in Central and Eastern Europe. The company has offices in Prague and Utrecht, The Netherlands.

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