XTRA:AT1Real Estate
Does Aroundtown’s €1 Billion Perpetual Notes Buyback Strengthen the Bull Case for (XTRA:AT1)?
In October 2025, Aroundtown SA announced the completion of a major tender offer to buy back €1 billion in perpetual notes, reducing its outstanding perpetual notes by approximately €500 million while issuing €200 million in new notes at a lower 5.25% coupon.
This refinancing action is expected to deliver about €50 million in annualized coupon savings, directly enhancing funds from operations and improving the company's credit metrics under S&P's methodology.
We'll examine how Aroundtown's...