Aroundtown SA (DE:AT1) has released an update.
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Aroundtown SA has announced the successful completion of its exchange and tender offers in GBP and USD, achieving a high acceptance rate for its perpetual notes and issuing new ones, leading to a combined total acceptance of approximately €2.8 billion across all offers. This strategic financial maneuver is set to improve the company’s credit metrics and reduce long-term coupon payments, thereby enhancing its free funds from operations (FFO). Aroundtown SA is the largest listed German commercial real estate company, with a strong S&P credit rating.
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