Flavia launches tender offer for two Eurovita notes due 2025

By Marisa Wong

Los Angeles, Oct. 23 – Flavia Bondco Ltd. is inviting holders of two series of notes issued by Eurovita SpA to tender their notes for purchase for cash, according to a notice.

The tender offer covers Eurovita’s €40 million series A fixed-rate subordinated notes due 2025 (ISIN: XS1325091152), with €4.2 million outstanding, and its €5 million series B fixed-rate subordinated notes due 2025 (ISIN: IT0005125528), all of which is outstanding.

For each series, Flavia is offering a purchase price of €350 per €1,000 principal amount.

The offeror will not be paying accrued interest on any notes accepted for purchase.

The offer will expire at 11 a.m. ET on Oct. 27.

Results will be announced on Oct. 30.

Settlement of the series A notes is expected to be on Oct. 31. Settlement of the series B notes will be as soon as practicable after the expiration deadline.

Tenders may not be withdrawn except in limited circumstances.

The tender agent is Kroll Issuer Services Ltd. (+44 20 7704 0880; eurovita@is.kroll.com; attn.: Alessandro Zorza; https://deals.is.kroll.com/eurovita).

Guernsey-based Flavia is an entity wholly owned by the indirect majority shareholder of Eurovita, the Fifth Cinven Fund. Eurovita is a Milan-based insurance company.

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