Harneys advise lenders on Aroundtown Property Holding Plc €1 billion bond issues

Harneys acted for lenders in two successive bond issues in aggregate worth €1 billion in 2016 by Aroundtown Property Holding Plc. Aroundtown is a specialist real estate holding company focussed on investing in and managing turnaround opportunities in the European real estate market since 2004. It has a total portfolio of group assets worth over €8 billion.

On both transactions partner Nancy Erotocritou led the Harneys team which also included Associate Demetris Nicolaou.

Specifically, in May 2016 Harneys acted as legal advisors for Morgan Stanley & Co International plc., Deutsche Bank AG, London Branch, Joh. Berenberg, Gossler & Co. KG, Frankfurt Branch, and Société Générale as managers and Prudential Trustee Company Limited as trustee, for the issue of €600 million 1.5 per cent bonds due 2022 by Aroundtown. In June 2016 we acted as legal advisors for Morgan Stanley & Co International plc as manager and Prudential Trustee Company Limited as trustee, for the issue of €500 million 1.5 per cent bonds due 2024 by Aroundtown.

In both cases the bonds were listed on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange.