REGULATED PRESS RELEASE

from ICADE (EPA:ICAD)

PR – ICADE – Success of the cash tender offer for a total amount of €350 million

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PRESS RELEASE

Paris, May 23, 2024, 6:00 p.m.

SUCCESS OF THE CASH TENDER OFFER 

FOR A TOTAL AMOUNT OF €350 MILLION

Icade has completed its cash tender offer, launched on May 14, 2024, to purchase 3 existing series of Notes.

Icade has repurchased €350 million, out of €517.1 million tendered, as follows:

•       Out of the €500 million notes maturing on 17 November 2025, with a 1.125% coupon (ISIN: FR0013218393), €142.5 million have been repurchased. From €500 million prior to the tender offer, the outstanding amount will be at €357.5 million after the settlement, scheduled on May 28, 2024;

•       Out of the €750 million notes maturing on 10 June 2026, with a 1.75% coupon (ISIN: FR0013181906), €207.5 million have been repurchased. From €750 million prior to the tender offer, the outstanding amount will be at €542.5 million after the settlement, scheduled on May 28, 2024;

•       the €600 million notes maturing 13 September 2027, with a 1.5% coupon (ISIN: FR0013281755) initially subject to the tender offer with a Priority 2, were not repurchased.

HSBC Continental Europe and Société Générale acted as bookrunners for the tender offer.

As indicated at the time of the announcement of its ReShapE strategic plan in February 2024, Icade will finance the purchase of the notes with part of the proceeds received in 2023 from the first step of the disposal of the Healthcare activities, and thus proactively manages its debt maturity profile.

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ABOUT ICADE

 

Icade is a full-service real estate company with expertise in both property investment (portfolio worth €6.8bn on a full consolidation basis as of 12/31/2023) and property development (2023 economic revenue of €1.3bn) that operates throughout France. Icade has forged long-term partnerships to respond to emerging trends in the industry. It has made climate issues and the preservation of biodiversity central to its business model to reinvent real estate and contribute to more sustainable cities. It is listed as a “SIIC” on Euronext Paris and its leading shareholder is the Caisse des Dépôts group.

 

The text of this press release is available on the Icade website:www.icade.fr/en

CONTACTS

Anne-Violette Faugeras  

Marylou Ravix

Head of Finance and Investor Relations  

External Communication Manager 

+33(0)7 88 12 28 38

+33 (0)7 88 30 88 51

anne-violette.faugeras@icade.fr

marylou.ravix@icade.fr 

 

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