Aroundtown SA Opts Not to Call GBP 400 Million Perpetual Notes Early

Aroundtown SA has announced that it will not exercise its option to voluntarily redeem its GBP 400 million 4.75% undated subordinated notes on the first call date of 25 June 2024. These notes, categorized under ISIN XS2017788592, will remain outstanding with a current nominal amount of GBP 20.4 million, following the completion of an exchange and tender offer concluded by the company in May 2024.

The decision not to redeem the perpetual notes early is attributed to prevailing market conditions. The company retains the flexibility to call these perpetual notes at or around any future interest payment dates. According to IFRS standards, these perpetual securities are accounted as 100% equity and contribute to the equity basis for financial covenant calculations in Aroundtown SA's senior bonds.