GRENKE AG Announces Bond Buyback Offer and Plans for New Issuance

GRENKE AG has announced a buyback offer for its outstanding Additional Tier 1 bonds, with plans to issue a new bond. The buyback, effective from January 8 to 15, 2025, involves a cash payment for the bonds. This move targets three series with nominal values totaling EUR 200 million. Purchase prices range from 97% to 100.25% of the nominal value. This offer's completion is subject to a successful new bond issuance.

The process will adhere to specifics detailed in a Tender Offer Memorandum. Participation requires submission through Kroll Issuer Services. This initiative reflects GRENKE AG's strategic financial management in aligning bond issues with market conditions.