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Prospect News home > News index > List of issuers T > Headlines for Tenders 2011 > News item |
Atrium European further cuts pricing in tender offer for 6.8% notes
By Marisa Wong
Madison, Wis., Aug. 8 - Atrium European Real Estate Ltd. announced that it further reduced the purchase price for its cash tender offer for any and all of the €35 million of 6.8% guaranteed notes due Dec. 21, 2011 issued by wholly owned subsidiary Manhattan Development sro.
The company will now pay €1,000 for each €1,000 principal amount of notes tendered after 11 a.m. ET on Aug. 19. The conversion price for notes tendered after the periodic expiration deadline was previously lowered to €1,005 for each €1,000 of notes. Noteholders who tender prior to the deadline will now receive €1,005 per €1,000 of notes, lowered from €1,010 per €1,000 of notes.
Holders will also receive accrued interest.
The offer began on April 13 and expires at 11 a.m. ET on Nov. 18 or earlier, if the company makes a further announcement. The offer was originally scheduled to expire on May 13.
The company currently holds €10,933,000 of the outstanding notes.
Deutsch Bank AG, London Branch is the dealer manager (44 20 7545 8011 or liability.management@db.com) and tender agent (44 20 7547 5000 or xchange.offer@db.com).
Atrium is a Jersey, Channel Islands, company that owns, operates and develops shopping centers in Central and Eastern Europe.
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