Flavia wraps tender offer for two Eurovita notes due 2025

By Mary-Katherine Stinson

Lexington, Ky., Oct. 30 – Flavia Bondco Ltd. concluded its cash tender offer for two series of notes issued by Eurovita SpA, according to a notice.

The tender offer covered 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 was outstanding.

The company announced it will accept for purchase €1.7 million of the series A notes, subject to satisfaction or waiver of the general conditions of the offer on or prior to settlement.

The company will not purchase any of the series B notes.

As previously reported, for each series, Flavia was 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 expired at 11 a.m. ET on Oct. 27.

Settlement of the series A notes will be on Oct. 31.

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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