Julius Meinl Living concludes the exchange offer for its existing bonds and
successfully issues new 5-year bonds, enabling the group to focus on continued
growth in the luxury hospitality market
JML Finance (Luxembourg) sarl / Key word(s): Corporate
Action/Issue of Debt
Julius Meinl Living concludes the exchange offer for its existing
bonds and successfully issues new 5-year bonds, enabling the
group to focus on continued growth in the luxury hospitality
market
05-Jul-2024 / 18:00 CET/CEST
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY U.S. PERSON
OR IN OR INTO THE UNITED STATES OR TO ANY PERSON LOCATED OR
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IS UNLAWFUL TO DISTRIBUTE THIS PRESS RELEASE.
Julius Meinl Living concludes the exchange offer for its existing
bonds pursuant to the exchange offer memorandum issued on 23 May
2024 and successfully issues new 5-year bonds, enabling the group
to focus on continued growth in the luxury hospitality market
On 23 May 2024, the Julius Meinl Living group announced an
exchange offer on the existing EUR 30 million of 2019 / 2024
bonds (ISIN: XS204298157) issued by JML Finance (Luxembourg) S.à
r.l. (Ticker: JMLFIN) (the "Existing Notes") (the "Exchange
Offer") and a new issue of 2024 / 2029 bonds (ISIN: XS2834253127)
by JML Finance (Luxembourg) S.à r.l. (the "Issuer") under its EUR
300 million EMTN programme (the "New Notes").
Capitalised terms used in this announcement but not defined
herein have the meanings given to them in the exchange offer
memorandum dated 23 May 2024 (the "Exchange Offer Memorandum").
Further to the Exchange Offer, made on the terms and subject to
the conditions set out in the Exchange Offer Memorandum, JML
Finance (Luxembourg) S.à r.l. is pleased to confirm that the New
Notes Coupon will be 7.0% p.a. paid semi-annually in cash; the
New Notes Tenor will be 5 years; and the New Notes will be
redeemed at maturity with a Redemption Amount at Maturity equal
to 120% of the principal amount of each New Note.
JML Finance (Luxembourg) S.à r.l. is additionally pleased to
confirm that on 11th July 2024, it will be issuing and delivering
a total of EUR 25.0 million of New Notes. Within this, the
Acceptance Amount comprises of EUR 6.8 million, which will be
accepted for exchange by JML Finance (Luxembourg) S.à r.l.
pursuant to the Exchange Offer; the New Notes Issue Amount is an
aggregate nominal amount of EUR 8.1 million of New Notes that
will be issued at par; and a further EUR 10.1 million which will
be held on behalf of the Issuer to facilitate future interest in
the bond.
SFI Markets acted as sole arranger and bookrunner of the
transaction
With the new issue having now reached first close, The Julius
Meinl Living group confirms that the total issuance of the New
Notes is capped at EUR 50 million.
All of the Existing Notes issued by JML Finance (Luxembourg) S.à
r.l. that have not been tendered pursuant to the Exchange Offer
will mature in September 2024. Their redemption will be funded by
the proceeds of the issuance of the New Notes and from other
resources of the Julius Meinl Living group including cash from
the group's previously announced EUR 12 million contribution of
new equity by its shareholder.
With the benefit of the ongoing issuance of the New Notes, of its
continuing shareholder support and as well as the support of its
banking partners, the Julius Meinl Living group continues to be
in a position to press ahead with the development of its latest
acquisition, the historic Hotel Ambasador in Bucharest and to
progress its pipeline of other possible future acquisitions.
The Hotel Ambasador will be the Julius Meinl Living group's
second "The Julius" branded property and, when it opens in 2027,
will seek to replicate the success of the The Julius Prague.
Having in 2023 achieved revenues of EUR 10.3 million and EBITDA
of EUR 5.1 million, The Julius Prague is currently trading well
ahead of prior year.
Various attractive pipeline projects, located in major European
political and economic capital cities, are currently at an
advanced stage of review.
Requests for information may be directed to:
office@juliusmeinlliving.com.
The information in this announcement is information that the
Issuer is obliged to make public pursuant to the EU Market Abuse
Regulation.
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Dissemination of a Financial Wire News, transmitted by EQS Group.
The issuer is solely responsible for the content of this
announcement.
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Language: English
Issuer: JML Finance (Luxembourg) sarl
6 Rue Dicks
L-1417 Luxembourg
Luxembourg
E-mail: office@juliusmeinlliving.com
Internet: www.juliusmeinlliving.com
ISIN: XS2042981576
EQS News ID: 1940815
End of Announcement - EQS News Service
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1940815 05-Jul-2024 CET/CEST