CTP offers to buy up to €200 million of notes from three series

By Marisa Wong

Los Angeles, Jan. 29 – CTP NV has launched invitations to holders of three series of its outstanding notes to tender their notes for purchase for cash, up to a maximum acceptance amount of €200 million aggregate nominal amount, according to a Monday news release.

CTP is offering to purchase notes from the following series:

• €500 million ½% notes due June 2025 (ISIN: XS2356029541), all of which is outstanding;

• €650 million 2 1/8% notes due October 2025 (ISIN: XS2238342484), with €331,813,000 nominal amount outstanding; and

• €700 million 7/8% notes due January 2026 (ISIN: XS2434791690), all of which is outstanding.

The purchase price will be calculated based on the interpolated mid-swap rate and a fixed purchase spread. The purchase spread is 85 bps for the June 2025 notes, 95 bps for the October 2025 notes and 125 bps for the 2026 notes.

The issuer will also pay accrued interest.

Tenders may be subject to proration if the offer cap is exceeded. The issuer said it reserves the right to accept significantly more or less (or none) of the notes of one series as compared to the other series.

The tender offers are subject to a new issue condition.

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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