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UBM Development AG, a major hotel developer in Europe, is issuing a new bond with a volume of up to 100 million euros (with an option to increase it to 120 million euros). Under the terms of this offer, the issuer will open to investors the existing 2014-2019 UBM bond, ISIN AT0000A185Y1, a means of exchanging the new UBM 2018-2023 bond by means of a public exchange offer. UBM Development AG plans to use the proceeds of the issue to refinance the existing financing of UBM Development AG and implement new and existing projects, particularly in the key markets of Germany, Austria and Austria. Poland.
The coupon of the new 2018-2023 UBM bond amounts to 3.125% per annum and is for a term of five years. The exchange offer (22.10.-07.11.2018) follows a subscription offer of bars (as long as the bonds have not been exchanged). Interested investors may withdraw the bond during the period from 08.11.2018 to 14.11.2018, a premature closing being reserved. The planned value date is 16.11.2018.
Investors are invited to submit bids for the exchange of their UBM 2014-2019 bonds against UBM 2018-2023 bonds. The exchange ratio is 1: 1, so that each bond of the UBM bond 2014-2019 with a par value of 500 euros can be exchanged for a new bond of the l '. UBM 2018-2023 bond with a par value of 500 euros. In addition, an additional amount of € 10.00 per bond exchangeable from the 2014-2019 UBM bond will be proposed. Investors will also receive accrued interest on the current interest period of € 8.68 per exchangeable bond of the 2014-2019 UBM bond. The custodian bank concerned is required to inform all holders of the UBM 2014-2019 obligation of the next steps. The trading period runs until 07.11.2018.
In addition, the new UBM 2018-2023 bond will be issued in the form of a public offering in Austria, Germany and Luxembourg and in the form of an exempt offer to qualified investors within the meaning of the Prospectus Directive. the European Union in the Member States of the European Union. European Economic Area (EEA) and in the form of an offer without prospectus publication to selected institutional investors outside the EEA in jurisdictions where such type of offer is permitted. Raiffeisen Bank International AG, Vienna, and Erste Group Bank AG, Vienna, are the leader, the bookrunner and the manager.
UBM Development is an important hotel promoter in Europe. The focus is on the three clearly defined asset classes: hotel, offices and housing, as well as the three main markets of Germany, Austria and Poland. With 145 years of experience, UBM focuses on its core business, the development of real estate. From planning to marketing the property, all services are offered from a single source. UBM shares are listed on the main market segment of the Vienna Stock Exchange.
https://www.fixed-income.org/
(Photo: Hyatt Regency Amsterdam © UBM Development)
Source: fixed-income.org – The platform for investors and issuers in the bond market.
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