Aroundtown SA Maintains GBP 400 Million in Perpetual Notes

Luxembourg-based Aroundtown SA has announced that it will not exercise its option to voluntarily redeem GBP 400 million of 4.75% perpetual notes, initially eligible for redemption on June 25, 2024. Despite completing an exchange and tender offer that reduced the outstanding nominal amount to GBP 20.4 million, the decision to retain the notes is based on current market conditions.

The company retains the flexibility to call these perpetual notes on subsequent interest payment dates. Additionally, these notes will continue to be treated as full equity under International Financial Reporting Standards (IFRS) and in the computation of financial covenants for the company's senior bonds, ensuring stability in its financial structure.