Lendlease accepts £125 million of tenders for 3.5% green notes due 2033

By Mary-Katherine Stinson

Lexington, Ky., June 27 – Lendlease Europe Finance plc announced results of its offer for holders of its outstanding £250 million 3.5% fixed-rate green notes due 2033 (ISIN: XS2383508590) to tender their notes for purchase for cash, up to an aggregate principal amount of £75 million, according to a notice.

As of the tender offer deadline of 11 a.m. ET on June 26, Lendlease received tenders of £208,471,000 total principal of the notes, of which £125 million was accepted for purchase subject to a scaling factor of 59.1506%.

As previously reported, the issuer was offering to purchase the notes at 71.5, plus accrued interest.

The company said the purpose of the tender offer is balance sheet management and reduction of net debt. The tender offer also provides liquidity to holders.

Notes purchased under the offer will be canceled.

Settlement is expected to be on June 29.

The dealer manager is HSBC Bank plc (+44 20 7992 6237, +852 3941 0223; liability.management@hsbcib.com).

The information and tender agent is Morrow Sodali Ltd. (leadlease@investor.morrowsodali.com; https://projects.morrowsodali.com/ lendlease; +44 20 4513 6933, +852 2319 4130).

The notes are listed on the Singapore stock exchange.

The outstanding total principal amount of notes after cancellation will be £125 million.

The U.K.-based issuer is a subsidiary of Lendlease, a multinational construction and real estate company with headquarters in Sydney, Australia.

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