20 May 2016 09:30
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
20 May 2016. Thomas Cook Group plc (the Company) has announced today that as part of the its strategy to reduce its fixed term debt and associated interests costs, it has accepted for purchase an aggregate principal amount of approximately £100,000,000 of its outstanding £300,000,000 7.75% Notes due 2017 (the Notes) pursuant to its purchase programme managed by Merrill Lynch International, DNB Markets, a Division of DNB Bank ASA, and Lloyds Bank plc (together, the "Managers").
Description of the Notes | ISIN | Amount O/S | Purchase Price |
£300,000,000 7.75% Notes due 2017 | XS0504306001 | £300,000,000 | 106.5 percent |
The Company announces that it has decided in its sole discretion to purchase Notes in an aggregate principal amount of approximately £100,000,000 from Merrill Lynch International and Lloyds Bank plc and that the offer period for the repurchase programme is now closed.
Settlement will be for T+2 from the date of purchase and accrued interest from the last applicable interest payment date up to but excluding the settlement date will be paid in addition to the purchase price. Notes purchased by the Company pursuant to the repurchase programme will be cancelled. The aggregate principal amount of Notes outstanding following the settlement of the repurchase programme will be approximately £200,000,000.
The Company reserves the right to continue to repurchase Notes, off-market or in the market, from time to time.
The Company repurchased the Notes from Merrill Lynch International and Lloyds Bank plc: International, Tim Morgan/Liability Management, at Telephone: +44 (0) 207 995 2462 or Lloyds Bank plc, Liability Management Desk, at Telephone: +44 (0) 207 158 2720.
Thomas Cook is one of the world's leading leisure travel companies with operations in 15 source markets across Europe. The Company operates well-recognised brands including Thomas Cook, Neckermann, Condor, Jet tours, Ving, Spies and Tjareborg. The Company also offers a wide range of holiday options, including traditional pre-packaged holidays, independent travel products and a selection of travel-related financial services as well as certain ancillary travel services, including duty free shopping and processing passenger baggage at airports.
DISCLAIMER This announcement contains important information which should be read carefully before any decision is made. If you are in any doubt as to the action you should take, you are recommended to seek your own financial advice, including as to any tax consequences, from your stockbroker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to sell such Notes. None of the Company, Merrill Lynch International or Lloyds Bank plc makes any recommendation as to whether noteholders should sell their Notes.
OFFER AND DISTRIBUTION RESTRICTIONS
The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required by the Company, Merrill Lynch International and Lloyds Bank plc to inform themselves about and to observe any such restrictions. This announcement does not constitute an offer to buy or a solicitation of an offer to sell the Notes (and offers to sell Notes will not be accepted from noteholders) in any circumstances in which such offer or solicitation is unlawful.