Aroundtown SA Unveils €750 Million Perpetual Notes and Tender Offer

Aroundtown SA has announced a successful issuance of €750 million in perpetual notes, with a 5.125% coupon rate, slightly below the 5.25% rate from their previous issuance in October 2025. This successful issuance highlights the company's positive trajectory. The notes received a high demand, being nearly four times oversubscribed. Classed as 100% equity under IFRS, the notes are anticipated to receive a BB+ rating from S&P with a 50% equity content.

The raised funds are intended to refinance existing perpetual notes through a tender offer, targeting those with a forthcoming first call date in 2026, as well as notes with higher coupon rates. The tender offer, initiated on January 27, 2026, is projected to conclude on February 3, 2026. This strategic move aims to manage future financial obligations efficiently and mitigate future coupon impacts on the company's perpetual notes.