sur Tirlán Co-operative Society Limited (isin : XS2436579978)
Tirlán Co-operative Society Limited Completes Tender Offer
Tirlán Co-operative Society Limited has announced the results of its tender offer to repurchase its outstanding €250 million 1.875% secured exchangeable bonds due January 2027. The company successfully bought back €245.4 million, approximately 98.2% of the bonds' total principal amount.
The repurchase was conducted through a reverse bookbuilding process, with bonds purchased at a price of €105,000 for every €100,000 principal amount. In addition, Tirlán will cover accrued interest until the settlement, scheduled for October 8, 2025, facilitated by HSBC Continental Europe.
Post-settlement, only €4.6 million in principal is expected to remain, prompting the possibility of early redemption. The remaining bonds could be redeemed with a 30 to 45-day notice if Tirlán exercises this option.
R. H.
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