Shopping center-focused Atrium European Real Estate Ltd. launched cash tender offers for its €350.0 million 4.000% notes due April 2020 and €500.0 million 3.625% notes due October 2022.
Roughly €335.1 million of the 2020 notes remain outstanding, while about €498.6 million of the 2022 notes remain outstanding.
Atrium said it plans to issue a new euro-denominated RegS senior unsecured fixed-rate eurobond of at least €300.0 million with a maturity of up to eight years.
The company will use the proceeds from the issuance to purchase notes in the tender offers and for general corporate purposes.
The tender offers, which are subject to the successful completion of the new notes issuance, are set to expire June 4.
