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Lendlease accepts tenders for £82.86 million 3.5% green notes due 2033
By Marisa Wong
Los Angeles, Dec. 14 – Lendlease Europe Finance plc announced the results of its Dec. 6 any-and-all tender offer for its £125 million outstanding 3.5% fixed-rate green notes due 2033 (ISIN: XS2383508590).
As of the deadline at 11 a.m. ET on Dec. 13, holders tendered £82,864,000, or 66.29%, of the notes, according to a Thursday press release.
The issuer said it accepted for purchase all of the tendered notes.
The purchase price is 74, plus accrued interest up to the settlement date, which is expected to be Dec. 18.
After the tender offer is completed, the purchased notes will be canceled, leaving £42,136,000 principal amount outstanding.
The purpose of the tender offer is balance sheet management and the reduction of net debt. The company ran a separate tender offer for the same notes in June, as previously reported.
HSBC Bank plc is the dealer manager (+44 20 7992 6237, +852 3941 0223; liability.management@hsbcib.com).
The information and tender agent is Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130; lendlease@investor.morrowsodali.com; https://projects.morrowsodali.com/lendlease).
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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