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27 Mar 2015 11:25
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS TENDER OFFER MEMORANDUM.
27 March 2015
CASH TENDER OFFER - RESULTS AND PRICING ANNOUNCEMENT
SEVERN TRENT UTILITIES FINANCE PLC ANNOUNCES THE RESULTS AND PRICING OF ITS CASH TENDER OFFER IN RESPECT OF ITS €700,000,000 5.25 PER CENT. NOTES DUE 2016 (ISIN XS0351738033)
Severn Trent Utilities Finance Plc (the Offeror) announced on 19 March 2015 an invitation (the Offer), subject to certain offer and distribution restrictions, to eligible holders (the Noteholders) of its €700,000,000 5.25 per cent. Notes due 2016 (ISIN XS0351738033) (the Notes) to tender such Notes for purchase by the Offeror for cash, upon the terms and conditions set out in a Tender Offer Memorandum dated 19 March 2015 (the Tender Offer Memorandum) up to a Maximum Acceptance Amount of €280,000,000.
Capitalised terms used and not otherwise defined in this announcement have the meaning given to them in the Tender Offer Memorandum.
Results and Pricing of the Offer
The results and pricing of the Offer is set out below:
Description of the Notes | ISIN/ Common Code | Principal amount accepted for purchase | Purchase Yield | Purchase Price | Pro-ration factor |
5.25 per cent. Notes due 2016 | XS0351738033 / 035173803 | €182,639,000 | 0 per cent. | 104.963 per cent. | Not applicable |
The Offeror has accepted for purchase pursuant to the Offer all Notes validly tendered, and expects to purchase the relevant Notes on the scheduled Settlement Date of 31 March 2015. Following settlement, €517,361,000 in principal amount of the Notes will remain outstanding. The Offeror will pay accrued and unpaid interest for the period from (and including) the interest payment date for the Notes immediately preceding the Settlement Date to (but excluding) the Settlement Date in respect of Notes accepted for purchase pursuant to the Offer, equal to €143.44 per €50,000 in principal amount of the Notes.
DEALER MANAGERS |
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Barclays Bank PLC 5 The North Colonnade London E14 4BB United Kingdom Telephone: +44 20 3134 8515 Attention: Liability Management Group Email: eu.lm@barclays.com | Mizuho International plc Bracken House One Friday Street London EC4M 9JA United Kingdom Telephone: +44 20 7090 6474 Attention: Liability Management Group Email: liabilitymanagement@uk.mizuho-sc.com
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Société Générale 10 Bishops Square London E1 6EG United Kingdom Telephone: +44 20 7676 7579 Attention: Liability Management Email: liability.management@sgcib.com
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| TENDER AGENT | ||
| Lucid Issuer Services Limited Leroy House 436 Essex Road London N1 3QP United Kingdom Telephone:+ 44 20 7704 0880 Attention: Victor Parzyjagla Email: severntrent@lucid-is.com | ||
Offer and Distribution Restrictions
The Offer has expired. This announcement does not constitute an offer of any securities or an invitation to participate in any investment activity for any purpose.
The Offer was conducted subject to the Offer and Distribution Restrictions set out in the Tender Offer Memorandum.
General
The Tender Offer Memorandum did not and does not constitute an offer to buy or the solicitation of an offer to sell Notes (and tenders of Notes in the Offer are not accepted from Noteholders) in any circumstances in which such offer, solicitation or tender is unlawful.
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