SEGRO PLC FINAL RESULTS OF THE TENDER OFFERS (7349S)
October 04 2017 - 10:49AM
UK Regulatory
TIDMSGRO
RNS Number : 7349S
SEGRO PLC
04 October 2017
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.
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 (the United States)
OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE
THIS ANNOUNCEMENT.
SEGRO plc (the Company)
LEI: 213800XC35KGM9NFC641
4 October 2017
SEGRO plc ANNOUNCES FINAL RESULTS OF THE TENDER OFFERS
On 25 September 2017, SEGRO plc (the Company) launched separate
invitations to holders of its outstanding (a) 6.750 per cent. Notes
due 2021 (ISIN: XS0469028319) (the 2021 Notes), (b) 7.000 per cent.
Notes due 2022 (ISIN: XS0125077122) (the 2022 Notes), (c) 6.750 per
cent. Notes due 2024 (ISIN: XS0107099466) (the 2024 Notes), (d)
6.000 per cent. Notes due 2019 (ISIN: XS0179346274) (the 2019
Notes); and (e) 5.625 per cent. Notes due 2020 (ISIN: XS0236149877)
(the 2020 Notes) (the 2021 Notes, the 2022 Notes, the 2024 Notes,
the 2019 Notes and the 2020 Notes, together the Notes), to tender
their Notes for purchase by the Company for cash (each an Offer and
together, the Offers), subject to applicable offer and distribution
restrictions. The Company announced the indicative results of the
Offers earlier today.
Capitalised terms used and not otherwise defined in this
announcement have the meanings given in the tender offer memorandum
dated 25 September 2017 (the Tender Offer Memorandum).
The Company announces that it will (subject to satisfaction or
waiver of the New Issue Condition) accept for purchase in cash an
aggregate principal amount of Notes validly tendered pursuant to
the Offers equal to GBP549,547,000. The Company will not be
accepting for purchase any of the 2020 Notes tendered for purchase
pursuant to the Offers. The final results of the Offers are as
follows:
Description Coupon ISIN / Common Aggregate Aggregate Scaling Purchase Purchase Purchase
of the Notes Code Principal Principal Factor Yield (per Price (per Spread
Amount of Notes Amount of Notes (per cent.) cent.) cent.)
tendered accepted for
purchase
6.750
per XS0469028319 Not
2021 Notes cent. / 046902831 GBP220,697,000 GBP220,697,000 Applicable 1.205 122.204 60 bps
7.000
per XS0125077122 Not
2022 Notes cent. / 012507712 GBP110,876,000 GBP110,876,000 Applicable 1.254 124.657 60 bps
6.750
per XS0107099466 Not
2024 Notes cent. / 010709946 GBP142,628,000 GBP142,628,000 Applicable 1.673 130.538 67 bps
6.000
per XS0179346274 Not
2019 Notes cent. / 017934627 GBP75,346,000 GBP75,346,000 Applicable 0.955 109.820 55 bps
The Offers remain subject to the conditions and restrictions set
out in the Tender Offer Memorandum.
Whether the Company will purchase any Notes validly tendered in
the Offers is subject, without limitation, to the signing by the
Company and the respective Managers in respect of the New Issue of
a subscription agreement for the purchase of, and subscription for,
the New Notes (the New Issue Condition). The New Issue Condition
may be waived by the Company.
Subject to the satisfaction (or waiver) of the New Issue
Condition, the expected Tender Offer Settlement Date is 11 October
2017.
Full details concerning the Offers are set out in the Tender
Offer Memorandum.
Questions and requests for assistance in connection with the
Offers, may be directed to the Dealer Managers and the Tender
Agent, the contact details for both of which are set out below.
HSBC Bank plc (Telephone: +44 (0) 20 7992 6237; Attention:
Liability Management Group; Email: LM_EMEA@hsbc.com), Lloyds Bank
plc (Telephone+44 (0) 20 7158 1721; Attention: Liability Management
Group; Email: liability.management@lloydsbanking.com) and Banco
Santander, S.A. (Telephone+44 (0) 20 7756 6909 / 6646; Attention:
Liability Management; Email: tommaso.grospietro@santandergcb.com /
king.cheung@santandergcb.com) are acting as Dealer Managers, The
Royal Bank of Scotland plc (trading as NatWest Markets) is acting
as Co Dealer Manager and Lucid Issuer Services Limited (Telephone:
+44 20 7704 0880; Attention: David Shilson; Email:
segro@lucid-is.com) is acting as Tender Agent.
This announcement is released by SEGRO plc and contains
information that qualified or may have qualified as inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 (MAR), encompassing information relating
to the Offers described above. For the purposes of MAR and Article
2 of Commission Implementing Regulation (EU) 2016/1055, this
announcement is made by Elizabeth Blease, Group Company Secretary
of SEGRO plc.
DISCLAIMER This announcement must be read in conjunction with
the Tender Offer Memorandum. No offer or invitation to acquire or
sell any securities is being made pursuant to this announcement.
The Dealer Managers do not take responsibility for the contents of
this announcement. The distribution of this announcement and the
Tender Offer Memorandum in certain jurisdictions may be restricted
by law. Persons into whose possession this announcement and/or the
Tender Offer Memorandum come into are required by each of the
Company, the Dealer Managers and the Tender Agent to inform
themselves about, and to observe, any such restrictions.
Stephanie Murton
Legal Counsel
020 7451 9082
This information is provided by RNS
The company news service from the London Stock Exchange
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