Luxembourg-based real estate operating and management company Grand City Properties SA offered to purchase its outstanding €500.0 million worth of 2% notes due 2021 and €450.0 million of 0.25% convertible notes due 2022.

The price for every €100,000 of convertible notes will be between €100,750 and €101,000, including any accrued interest. The final price will be set on the basis of a reverse bookbuilding process, slated to close Feb. 19.

The London branch of Deutsche Bank AG, Goldman Sachs International, BofA Merrill Lynch and Morgan Stanley & Co. International plc are the joint dealer managers for the tender offer.

Grand City also launched an issuance of benchmark size senior unsecured notes due 2027 under its euro medium-term note program. The notes will be traded on the Irish stock exchange.

Proceeds from the issuance will be used to refinance and/or repay existing debt, according to a release.