Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2024 > News item |
Globalworth refinances with €640.46 million of new notes via exchange offer
By Mary-Katherine Stinson
Lexington, Ky., April 26 – Globalworth Real Estate Investments Ltd. shared details of the new notes issued as a part of its recently concluded exchange offer for any and all of its outstanding 3% notes due March 29, 2025 (ISIN: XS1799975922) and 2.95% notes due July 29, 2026 (ISIN: XS2208868914), according to a news release.
The company issued a total of €640,459,600 in new notes. The 2025 notes were exchanged for €307,109,200 of 6¼% green bonds due March 31, 2029 and the 2026 notes were exchanged for €333,350,400 of 6¼% green bonds due March 31, 2030.
As previously reported, up to €45 million of the new 2029 notes and up to €20 million of the new 2030 notes are subject to a mandatory redemption at par upon receipt of net cash proceeds from one or more real estate sales, if any.
Each series of the new notes has an optional and final redemption price of 102.
The new notes were issued as green bonds and are intended to be used to finance or refinance eligible green projects pursuant to the company's green financing framework.
Perella Weinberg UK Ltd. acted as financial adviser to the company.
Merrill Lynch International acted as lead dealer manager and green structuring coordinator, Erste Group Bank AG and Raiffeisen Bank International AG acted as co-dealer managers and Kroll Issuer Services Ltd. as exchange and tabulation agent in connection with the exchange offer and the consent solicitation.
Milbank LLP acted as international legal counsel to the company. Latham & Watkins LLP acted as international legal counsel to the lead dealer manager and the co-dealer managers.
At the conclusion of the exchange offer on April 17, noteholders had submitted electronic voting instructions to exchange €381 million principal amount, or 85%, of the outstanding 2025 notes and €345 million, or 86%, of the outstanding 2026 notes.
Globalworth is a real estate investment company with holdings located primarily in Romania and Southeast Europe. The company is based in Bucharest, Romania.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.