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Grand City Properties S.A. (IRSH)
Grand City Properties S.A.announces the results of the offer to the holders
of its outstanding EUR500,000,000 2% Notes due 2021 to tender such Notes for
purchase for cash
26-Feb-2018 / 15:28 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
*NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE
UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE
U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN
MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA
(THE 'UNITED STATES') OR IN OR INTO OR TO ANY PERSON RESIDENT OR LOCATED IN
ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO PUBLISH OR DISTRIBUTE THIS
DOCUMENT.*
*GRAND CITY PROPERTIES S.A. ANNOUNCES THE RESULTS OF THE OFFER TO THE
HOLDERS OF ITS OUTSTANDING EUR500,000,000 2% NOTES DUE 2021 TO TENDER SUCH
NOTES FOR PURCHASE FOR CASH*
_26 February 2018_.
Grand City Properties S.A. (the '*Company*') announces today the result of
the offer to the holders of its EUR500,000,000 2% Notes due 2021 (ISIN:
XS1130507053) (the '*Notes*') to tender any and all such Notes for purchase
by the Company for cash (the '*Offer*').
The Offer was announced on 19 February 2018 and was subject to the terms and
conditions set out in the tender offer memorandum dated 19 February 2018
(the '*Tender Offer Memorandum*') prepared by the Company. Capitalised terms
used in this announcement but not defined have the meanings given to them in
the Tender Offer Memorandum.
An aggregate principal amount of EUR 40,600,000 of the Notes was validly
tendered for purchase in the Offer. The Company accepted for purchase all
Notes validly tendered on the terms set out in the following table:
*Description *ISIN/Common *Interpolated *Purchase *Purchase
of the * Mid-Swap * Yield *Purchase
Notes* *Code* Rate* *Spread* (annual)* Price**
EUR XS1130507053 0.218 per 10 bps 0.318 per 106.129
500,000,000 / 113050705 cent. cent. per cent.
2.00 per of the
cent. Notes principal
due 2021 amount
* Excluding any accrued interest.
The settlement of the Offer is expected to take place on 27 February 2018.
Following the settlement of the Offer, 27.76% of the Notes will remain
outstanding.
The Company might further purchase Notes in the open market or otherwise. If
purchases (and corresponding cancellations) and/or redemptions have been
effected in respect of 80 per cent or more in aggregate principal amount of
the Notes, the Company intends to redeem all of the then outstanding Notes
at their principal amount, together with accrued but unpaid interest, if
any, to (but excluding) the redemption date pursuant to the terms and
conditions of the Notes.
*About the Company*
The Company is a specialist in residential real estate, value-add
opportunities in densely populated areas in Germany. The Company's strategy
is to improve its properties through targeted modernization and intensive
tenant management, and then create value by subsequently raising occupancy
and rental levels. Further information: www.grandcityproperties.com
Grand City Properties S.A. (ISIN: LU0775917882) is a public limited
liability company (_société anonyme_) incorporated under the laws of the
Grand Duchy of Luxembourg, having its registered office at 1, Avenue du
Bois, L-1251 Luxembourg, Grand Duchy of Luxembourg and being registered with
the Luxembourg trade and companies register (_Registre de Commerce et des
Sociétés Luxembourg_) under number B 165 560. The shares of Grand City
Properties are listed on the Prime Standard segment of Frankfurt Stock
Exchange.
*Contact: *
Grand City Properties S.A.
1, Avenue du Bois
L-1251 Luxemburg
T: +352 28 77 87 86
E: info@grandcity.lu
www.grandcityproperties.com
*Press Contact: *
Katrin Petersen
Grand City Properties S.A.
T: +49 (30) 374-381 5218
E: katrin.petersen@grandcity.lu
*DISCLAIMER *
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION
OF AN OFFER TO BUY ANY SECURITIES.
THE SECURITIES MENTIONED IN THIS ANNOUNCEMENT HAVE NOT BEEN, AND WILL NOT
BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE *SECURITIES ACT*), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES
ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES IN THE UNITED
STATES.
THIS ANNOUNCEMENT IS DIRECTED AT AND IS ONLY BEING DISTRIBUTED IN THE UNITED
KINGDOM TO (I) PERSONS WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING
TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND
MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE *ORDER*), (II) HIGH
NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE
COMMUNICATED FALLING WITHIN ARTICLE 49 OF THE ORDER, AND (III) PERSONS TO
WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER
BEING REFERRED TO AS *RELEVANT PERSONS*). THIS COMMUNICATION MUST NOT BE
READ, ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY
INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS
AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT
PERSONS.
IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA (*EEA*), THIS ANNOUNCEMENT
AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED ONLY AT PERSONS WHO ARE
'QUALIFIED INVESTORS' WITHIN THE MEANING OF ARTICLE 2(1)(E) OF DIRECTIVE
2003/71/EC, AS AMENDED (THE *PROSPECTUS DIRECTIVE*) (*QUALIFIED INVESTORS*).
ANY PERSON IN THE EEA WHO ACQUIRES THE SECURITIES IN ANY OFFER (AN
*INVESTOR*) OR TO WHOM ANY OFFER OF THE SECURITIES IS MADE WILL BE DEEMED TO
HAVE REPRESENTED AND AGREED THAT IT IS A QUALIFIED INVESTOR. ANY INVESTOR
WILL ALSO BE DEEMED TO HAVE REPRESENTED AND AGREED THAT ANY SECURITIES
ACQUIRED BY IT IN THE OFFER HAVE NOT BEEN ACQUIRED ON BEHALF OF PERSONS IN
THE EEA OTHER THAN QUALIFIED INVESTORS, NOR HAVE THE SECURITIES BEEN
ACQUIRED WITH A VIEW TO THEIR OFFER OR RESALE IN THE EEA TO PERSONS WHERE
THIS WOULD RESULT IN A REQUIREMENT FOR PUBLICATION BY THE COMPANY OR ANY OF
THE MANAGERS OF A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS
DIRECTIVE.
THIS ANNOUNCEMENT MAY CONTAIN PROJECTIONS OR ESTIMATES RELATING TO PLANS AND
OBJECTIVES RELATING TO OUR FUTURE OPERATIONS, PRODUCTS, OR SERVICES, FUTURE
FINANCIAL RESULTS, OR ASSUMPTIONS UNDERLYING OR RELATING TO ANY SUCH
STATEMENTS, EACH OF WHICH CONSTITUTES A FORWARD-LOOKING STATEMENT SUBJECT TO
RISKS AND UNCERTAINTIES, MANY OF WHICH ARE BEYOND THE CONTROL OF GRAND CITY
PROPERTIES S.A. ACTUAL RESULTS COULD DIFFER MATERIALLY, DEPENDING ON A
NUMBER OF FACTORS.
ISIN: LU0775917882, XS1130507053, XS1191320297, XS1220083551,
XS1491364953, XS1373990834, XS1654229373
Category Code: MSCL
TIDM: IRSH
LEI Code: 5299002QLUYKK2WBMB18
Sequence No.: 5241
End of Announcement EQS News Service
657841 26-Feb-2018
(END) Dow Jones Newswires
February 26, 2018 09:28 ET (14:28 GMT)
