AA PLC Pricing of GBP280,000,000 6 1/2 % Class B3 Secured Notes (3511M)
January 20 2021 - 8:28AM
UK Regulatory
TIDMAA.
RNS Number : 3511M
AA PLC
20 January 2021
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE
MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU)
596/2014 AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN
OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE
THIS ANNOUNCEMENT
AA plc
20 January 2021
The AA Announces Pricing of
GBP280,000,000 6 1/2 % Class B3 Secured Notes due 2050 by the AA
Bond Co Limited
The AA plc announces today that AA Bond Co Limited (a subsidiary
of AA plc, the Issuer) has priced GBP280,000,000 aggregate
principal amount of Class B3 6 1/2 % Secured Notes due 2050 (the
Notes), which are expected to close on 29 January 2021 (the
Offering).
The gross proceeds from the Offering will, upon issuance of the
Notes, be placed into an escrow account. Upon the satisfaction of
certain conditions including the completion of the acquisition of
AA plc (together with the subsidiaries thereof, the Group) by
Basing Bidco Limited, the proceeds will be released from escrow and
used (together with, among other things, the proceeds of a GBP261
million equity contribution intended to be deployed by Basing Bidco
Limited) to redeem the outstanding aggregate principal amount of
the Issuer's existing Class B2 Notes shortly after the acquisition
becomes effective.
Any enquiries in relation to this announcement should be
directed to:
Investors:
Katherine Horrell
Group Treasurer
Tel: +44 (0)7513 480458
Zeeshan Maqbool
Head of Investor Relations and Corporate Finance
Tel: +44 (0)20 7395 7301
Media :
FTI Consulting
Attn: Alex Le May, John Waples, Nick Hasell
Tel: +44 (0)20 3727 1340
In accordance with Rule 26 of the City Code on Takeovers and
Mergers, copies of this announcement and certain documents relating
to the Offering will be made available, subject to certain
restrictions relating to persons resident in a jurisdiction where
it is unlawful for either document to be distributed, on AA plc's
website at https://www.theaaplc.com/investors. For the avoidance of
doubt, the contents of this website are not incorporated into and
do not form part of this announcement.
The securities referred to herein have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
"Securities Act"), or any U.S. state securities laws, and may not
be offered or sold within the United States or to, or for the
account or benefit of, U.S. persons (as defined in Regulation S
under the Securities Act) except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of
the Securities Act. No public offering of any securities referred
to herein is being made in the United States.
This announcement may not be distributed, directly or
indirectly, in or into or from any jurisdiction where to do so
would constitute a violation of the relevant laws of such
jurisdiction. This announcement does not constitute or form part of
an offer to sell or issue, or any solicitation of an offer to buy
or subscribe for, any securities referred to herein in the United
States or in any other jurisdiction. The offer and the distribution
of this announcement and other information in connection with the
offer in certain jurisdictions may be restricted by law and persons
into whose possession any document or other information referred to
herein comes should inform themselves about and observe any such
restriction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
This announcement is directed only persons who (i) are outside
the United Kingdom, (ii) are investment professionals, as such term
is defined in Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005, as amended (the
"Financial Promotion Order"), (iii) are persons falling within
Article 49(2)(a) to (d) of the Financial Promotion Order, or (iv)
are persons to whom an invitation or inducement to engage in
investment activity (within the meaning of Section 21 of the
Financial Services and Markets Act 2000 in connection with the
issue or sale of any Notes may otherwise be lawfully communicated
or caused to be communicated (all such persons together being
referred to as "Relevant Persons"). Any investment activity to
which this communication relates will only be available to and will
only be engaged with, relevant persons. Any person who is not a
Relevant Person should not act or rely on this document or any of
its contents.
Forward-looking statements
This announcement contains statements that constitute
forward-looking statements, beliefs or opinions, including
statements relating to business, financial condition and results of
operations of the Group. These statements may be identified by
words such as "expectation", "belief", "estimate", "plan",
"target", or "forecast" and similar expressions or the negative
thereof; or by the forward-looking nature of discussions of
strategy, plans or intentions; or by their context. All statements
regarding the future involve known and unknown risks and
uncertainties and various factors could cause actual future
results, performance or events to differ materially from those
described or implied in these statements. Such forward-looking
statements are based on numerous assumptions regarding the Group's
present and future business strategies as well as the environment
in which the Group expects to operate in the future. Further,
certain forward-looking statements are based upon assumptions of
future events which may not prove to be accurate and the Group does
not accept any responsibility for the accuracy of the opinions
expressed in this announcement or the underlying assumptions. Past
performance is not an indication of future results and past
performance should not be taken as a representation that trends or
activities underlying past performance will continue in the future.
The forward-looking statements in this document speak only as at
the date of this announcement and the Group and its affiliates
expressly disclaim any obligation or undertaking to review or
release any updates or revisions to these forward-looking statemen
ts to reflect any change in the Group's expectations with regard
thereto or any change in events, conditions or circumstances on
which any statement is based after the date of this announcement or
to update or to keep current any other information contained in
this document or to provide any additional information in relation
to such forward-looking statements, unless required to do so by
applicable law.
This disclosure includes the release of inside information by AA
Bond Co Limited under Regulation (EU) 596/2014 (16 April 2014).
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END
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