ELLAKTOR completes senior bonds repayments
It has proceeded with the issuance of an 18-month, €500m bond.
ELLAKTOR S.A announced that has proceeded with the issuance of an 18-month, €500m bond, in accordance with the provisions of Law 4548/2018 and article 14 of Law 3156/2003, which was fully covered by Eurobank S.A., in order to partially finance the repayment of the €670m Senior Secured Notes 2024 (the “Notes”), issued by its subsidiary, ELLAKTOR VALUE PLC.
Its wholly owned subsidiary, AKTOR CONCESSIONS S.A., proceeded with the issuance of a €275m bond, expiring on Dec. 31st 2037, in accordance with the provisions of Law 4548/2018 and article 14 of Law 3156/2003, series A and B of which were fully covered by Eurobank S.A. and Alpha Bank S.A., in order to finance the repayment of its existing loan obligations towards ELLAKTOR S.A., cover the bond issued by ELLAKTOR S.A., and finance new investments of AKTOR CONCESSIONS S.A..
On 21.09.2022, expired the tender offer of the Issuer, to the holders of the €670 m, Senior Secured Notes 2024, result of a change of control event, which triggered a mandatory tender offer at price 101%, according to the related article of the indenture and the Offering Memorandum dated 01.08.2022.
The offer for the redemption of the Notes was initiated on 01.08.2022 and until its expiration, on 21.09.2022, holders of the Notes with a nominal value of €497m (i.e. 74.2% of the total Notes) accepted the offer. Payment to the Bondholders who offered their Notes, will take place on 23.09.2022.