Aroundtown SA Reports Successful Buyback of Perpetual Notes

Aroundtown SA has announced the successful completion of its perpetual notes tender offer. The company repurchased €1 billion in tendered perpetual notes, with plans to increase this to €1.2 billion through envisioned redemption options. This move follows a recent €500 million issuance of perpetual notes, now expanded by €200 million, achieving an aggregate nominal amount of €700 million in new notes.

The strategic buyback replaces higher-rate perpetual notes, reducing Aroundtown's total perpetual balance by approximately €500 million. This transaction is expected to yield an annualized coupon savings of about €50 million, thereby significantly enhancing the company's Funds From Operations (FFO) and supporting its credit metrics.

CFO Jonas Tintelnot expressed satisfaction with the results, noting strong investor support as a testament to Aroundtown's progress in strengthening its market position.