Tate & Lyle Regulatory News (TATE)

5 August 2019

TATE & LYLE PLC - ISSUE OF DEBT

ISSUE OF DEBT - NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA (OR TO U.S. PERSONS), AUSTRALIA, CANADA OR JAPAN, OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES OF SECURITIES WOULD BE PROHIBITED BY APPLICABLE LAW.

Tate & Lyle PLC announces that on 1 August 2019 it priced a US$200 million debt private placement. The proceeds will be used to refinance existing indebtedness, thereby extending the Group's debt maturity profile, and for general corporate purposes.

The transaction is expected to complete on 19 November 2019, when the following notes will be issued:

$100 million 3.31% notes due 2029

$100 million 3.41% notes due 2031

Commenting on the issue, Imran Nawaz, Chief Financial Officer, said: "We are delighted by the strong support shown again by private placement investors in Tate & Lyle. The notes will enable us to refinance the £200 million 6.75% bond that matures in November 2019, while maintaining strong levels of liquidity and extending the average maturity of our debt. Issuing fixed-rate notes has allowed us to lock into attractive long-term interest rates, and achieve a cost reduction compared to the maturing debt".

Disclaimer

The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act. This notice is for information only, does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

END

For more information contact Tate & Lyle PLC:

Investor Relations

Tel: +44 (0) 20 7257 2111

About Tate & Lyle: 

Tate & Lyle is a global provider of solutions and ingredients for food, beverage and industrial markets.

Tate & Lyle operates through two global divisions, Food & Beverage Solutions and Primary Products, supported by the Innovation and Commercial Development and Global Operations teams. Food & Beverage Solutions is focused on growth by building leading positions globally in the categories of beverages, dairy, and soups, sauces and dressings. Primary Products is focused on delivering steady earnings and generating cash.

Food & Beverage Solutions consists of: Texturants, including speciality starches; Sweeteners, including low- and no-calorie sweeteners; and a Health and Wellness portfolio comprising mainly speciality fibres; and Stabilisers and Functional Systems, which are bespoke ingredient blends that ensure foods retain their structure.

Primary Products consists of high-volume sweeteners, industrial starches and fermentation products (primarily acidulants). It also sells co-products from the corn milling process as animal nutrition.

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2019, Tate & Lyle sales totalled £2.8 billion. For more information, please visit http://www.tateandlyle.com