The Hague, The Netherlands, 2013-03-28 10:52 CET (GLOBE NEWSWIRE) -- Wereldhave N.V. (the "Company") announced today the results of its invitation to holders of its € 230,000,000 4.375% Convertible Bonds due 2014 (the "Notes") to tender their bonds for purchase by the Company (the "Offer").
The Expiration Deadline for the Offer was 5.00 p.m. (CET) on 27 March 2013. As at the Expiration Deadline, € 223,750,000 in aggregate principal amount of the Notes had been tendered pursuant to the Offer. The Company has decided to accept all Notes validly tendered in the Offer.
As the aggregate principal amount of Notes outstanding following the settlement of the Offer (which is expected to take place on 2 April 2013) will be less than 20 per cent. of the aggregate principal amount of the Notes originally issued, the Company intends to give notice to the holders of the Notes to redeem such outstanding Notes in whole at their principal amount plus accrued interest in accordance with the terms and conditions of the Notes.
Wereldhave is very pleased with the outcome of this transaction which allows it to reduce and optimise its debt position following the recently announced asset disposals. Barclays Bank PLC acted as Lead Dealer Manager and Kempen & Co N.V. as Co-Dealer Manager on this transaction. Lucid Issuer Services Limited acted as Tender Agent.
Capitalised terms used in this announcement but not defined have the meanings given to them in the tender offer memorandum dated 21 March 2013 (the “Tender Offer Memorandum”).
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Richard W. Beentjes
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