Manchester United Announces Satisfaction of Redemption Condition
June 26 2015 - 3:05PM
Business Wire
On May 28, 2015, MU Finance plc, a subsidiary of Manchester
United plc [NYSE: MANU], issued a notice of redemption for all of
its outstanding US dollar 8.375% notes due 2017 (the “2017 Notes”)
on June 27, 2015. Funding for this bond redemption is to be
provided by the issuance of new 3.79% Senior Secured Notes due 2027
(the “Notes”) to certain institutional investors. Our obligation to
redeem any of the 2017 Notes was conditioned upon the completion of
a financing transaction, including the Notes offering. On June 26,
2015, we closed the issuance of the Notes and accordingly the
redemption condition has been satisfied.
This announcement does not constitute a notice of redemption for
any of the 2017 Notes. The formal notices of redemption are being
provided separately in accordance with the terms of the indenture
governing the 2017 Notes.
The Notes are being offered and sold pursuant to an exemption
from the registration requirements under Section 4(a)(2) of the
Securities Act of 1933, as amended (the “Securities Act”), and Rule
506 of Regulation D promulgated thereunder. The Notes have not been
registered under the Securities Act or applicable state securities
laws. Accordingly, the Notes may not be offered or sold in the
United States except pursuant to an effective registration
statement or an applicable exemption from the registration
requirements of the Securities Act and such applicable state
securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
FORWARD LOOKING STATEMENTS
This press release contains statements which constitute forward
looking statements. These forward looking statements are based upon
Manchester United’s present intent, beliefs or expectations, but
forward looking statements are not guaranteed to occur and may not
occur for various reasons, including some reasons which are beyond
Manchester United’s control. For example, this press release states
that 2017 Notes are expected to be redeemed on June 27, 2015. In
fact, the closing of this transaction is subject to various
conditions as are customary in such transactions. If these
conditions are not satisfied, such transaction may not close. For
this reason, among others, you should not place undue reliance upon
the forward-looking statements. Except as required by law,
Manchester United undertakes no obligation to revise or update any
forward looking statements in order to reflect any event or
circumstance that may arise after the date of this report.
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version on businesswire.com: http://www.businesswire.com/news/home/20150626005692/en/
Investor RelationsManchester United LtdSamanta Stewart,
+44 (0) 20 7054 5928orPress EnquiriesSard Verbinnen &
CoJim Barron, +1-212-687-8080
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