11 March 2026 | CET 07:00
Ad hoc announcement pursuant to Art. 53 of the SIX Swiss Exchange Listing Rule
gategroup Holding AG's ("gategroup") subsidiary, gategroup Finance (Luxembourg) S.A., (the "Company") announces today the launch of a voluntary cash tender offer (the "Offer") to purchase any and all of its outstanding CHF 3.00% bond due 28 February 2027 (ISIN: CH0353945394) (the "Bond"), currently in an aggregate principal amount of CHF 350 million outstanding.
Following the recovery of the industry over the last few years and the successful refinancing transactions completed in 2025, gategroup has further strengthened its capital structure and liquidity position. Against this backdrop, the Company is taking the opportunity to proactively address the upcoming bond maturity and further optimise its liability profile.
The contemplated transaction is intended to lower gross debt and future interest expense, and enhance financial flexibility. The tender offer forms part of gategroup's ongoing prudent balance sheet management.
Under the terms of the Offer, bondholders are invited to tender their Bonds at a purchase price of 100.5% of the nominal amount (plus accrued interest). The Offer is subject to the terms and conditions set out in the information memorandum dated 10 March 2026 (the "Information Memorandum").
The Offer will commence on 11 March 2026 and is expected to expire on 20 March 2026, unless extended, amended or terminated by the Company in accordance with the Information Memorandum. Settlement is expected to occur on or around 25 March 2026.
Further details of the Offer are set out in the Information Memorandum, which is available via the Information Agent (https://deals.is.kroll.com/gategroup).
Bondholders tendering Bonds are advised to proceed pursuant to the instructions received from their custodian bank.
Media and investor inquiries
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About gategroup
gategroup is a leading global provider of airline catering, retail-on-board, and hospitality products and services. Headquartered in Zurich, Switzerland, the company serves millions of passengers through a network of nearly 200 locations in more than 60 countries. By leveraging innovation and operational expertise, gategroup partners with the world's leading airlines to create exceptional travel experiences. Learn more at www.gategroup.com.
Disclaimer
THE DISTRIBUTION OF THIS ANNOUNCEMENT MAY BE RESTRICTED BY LAW IN CERTAIN JURISDICTIONS AND PERSONS INTO WHOSE POSSESSION ANY DOCUMENT OR OTHER INFORMATION REFERRED TO HEREIN COMES, SHOULD INFORM THEMSELVES ABOUT AND OBSERVE ANY SUCH RESTRICTION. ANY FAILURE TO COMPLY WITH APPLICABLE SECURITIES LAWS IN SUCH JURISDICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTION.
NONE OF THE BONDS OF THE COMPANY (THE "SECURITIES") HAVE BEEN, OR WILL BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES. THE BONDS ARE NOT BEING OFFERED OR SOLD (BY PUBLIC OFFER OR PRIVATE PLACEMENT) IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED IN REGULATION S). THE BONDS ARE BEING OFFERED AND SOLD OUTSIDE THE UNITED STATES PURSUANT TO REGULATION S. THE SECURITIES MAY NOT BE RESOLD OR OTHERWISE TRANSFERRED IN THE UNITED STATES, EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN TRANSACTIONS NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF AN OFFER TO SELL THE BONDS, OR THE SOLICITATION OF ANY OFFER TO SUBSCRIBE FOR OR OTHERWISE BUY THE BONDS, TO ANY PERSON IN AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR IN ANY JURISDICTION TO WHOM OR IN WHICH SUCH OFFER OR SOLICITATION IS UNLAWFUL. SUBJECT TO CERTAIN EXCEPTIONS, THE BONDS MAY NOT BE OFFERED OR SOLD IN AUSTRALIA, SOUTH AFRICA, CANADA OR JAPAN OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY NATIONAL, RESIDENT OR CITIZEN OF AUSTRALIA, SOUTH AFRICA, CANADA OR JAPAN. THERE WILL BE NO PUBLIC OFFER OF THE BONDS IN AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR IN ANY OTHER JURISDICTION.
EEA MIFID II / UK MIFIR PROFESSIONALS/ECPS-ONLY / NO EEA OR UK PRIIPS KID MANUFACTURER TARGET MARKET (MIFID II / UK MIFIR PRODUCT GOVERNANCE) IS ELIGIBLE COUNTERPARTIES AND PROFESSIONAL CLIENTS ONLY (ALL DISTRIBUTION CHANNELS). NO EEA OR UK PRIIPS KEY INFORMATION DOCUMENT (KID) HAS BEEN PREPARED AS NOT AVAILABLE TO RETAIL IN EEA OR UK.
THIS ANNOUNCEMENT MAY CONTAIN SPECIFIC FORWARD-LOOKING STATEMENTS, E.G. STATEMENTS INCLUDING TERMS LIKE "BELIEVE", "ASSUME", "EXPECT", "FORECAST", "PROJECT", "MAY", "COULD", "MIGHT", "WILL" OR SIMILAR EXPRESSIONS. SUCH FORWARD -LOOKING STATEMENTS ARE SUBJECT TO KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY RESULT IN A SUBSTANTIAL DIVERGENCE BETWEEN THE ACTUAL RESULTS, FINANCIAL SITUATION, DEVELOPMENT OR PERFORMANCE OF THE COMPANY AND THOSE EXPLICITLY OR IMPLICITLY PRESUMED IN THESE STATEMENTS. AGAINST THE BACKGROUND OF THESE UNCERTAINTIES, READERS SHOULD NOT RELY ON FORWARD-LOOKING STATEMENTS. GATEGROUP HOLDING AG ASSUMES NO RESPONSIBILITY TO UPDATE FORWARD-LOOKING STATEMENTS OR TO ADAPT THEM TO FUTURE EVENTS OR DEVELOPMENTS.
