Eversholt Funding PLC Indicative Results of its Tender Offer (0788R)
25 June 2020 - 7:25PM
UK Regulatory
TIDM95EA
RNS Number : 0788R
Eversholt Funding PLC
25 June 2020
RBC Europe Limited announces Indicative Results of its Tender
Offer for
Eversholt Funding plc's GBP400,000,000 6.359 per cent. Bonds due
2025
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO
ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, 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 OR IN OR INTO ANY OTHER JURISDICTION OR TO ANY OTHER
PERSON WHERE OR TO WHOM IT IS UNLAWFUL TO RELEASE, PUBLISH OR
DISTRIBUTE THIS ANNOUNCEMENT.
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.
25 June 2020.
Further to its announcement on 18 June 2020, RBC Europe Limited
(the Offeror) today announces the indicative results of its
invitation to holders of the GBP400,000,000 6.359 per cent. Bonds
due 2025 (ISIN: XS0563638401) of Eversholt Funding plc (the
Company) guaranteed by the Guarantors (as defined in the Tender
Offer Memorandum) (the Bonds) to tender their Bonds for purchase by
the Offeror for cash (the Offer).
The Offer was announced on 18 June 2020 and was made on the
terms and subject to the conditions contained in the tender offer
memorandum dated 18 June 2020 (the Tender Offer Memorandum).
Capitalised terms used in this announcement but not defined have
the meanings given to them in the Tender Offer Memorandum.
As reported by the Tender Agent, as at the Expiration Deadline
of 4.00 p.m. (London time) on 24 June 2020, the Offeror had
received valid tenders of approximately GBP128,651,000 in aggregate
nominal amount of the Bonds for purchase.
In the event that the New Issue Condition is satisfied (or
waived) and the Offeror decides to accept valid tenders of Bonds
pursuant to the Offer, it expects to set the Final Acceptance
Amount at GBP128,651,000 in aggregate nominal amount of Bonds.
Accordingly, the Offeror expects to accept for purchase all Bonds
validly tendered pursuant to the Offer with no pro rata
scaling.
Bondholders should note that this is a non-binding indication of
the level at which the Offeror expects to set the Final Acceptance
Amount and any Scaling Factor that will be applied.
Pricing in respect of the Offer will take place at or around
1.00 p.m. (London time) today, 25 June 2020 (the Pricing Time). As
soon as reasonably practicable after the Pricing Time, the Offeror
will announce whether it will accept (subject to satisfaction or
waiver of the New Issue Condition on or prior to the Tender Offer
Settlement Date) valid tenders of Bonds pursuant to the Offer and,
if so accepted, the Final Acceptance Amount, the Reference Gilt
Rate, the Purchase Yield, the Purchase Price, any Scaling Factor
and Accrued Interest (expressed as a percentage of the nominal
amount of the Bonds).
BNP Paribas (Telephone: +33 1 55 77 78 94; Attention: Liability
Management Group; Email: liability.management@bnpparibas.com), HSBC
Bank plc (Telephone: +44 (0)20 7992 6237; Attention: Liability
Management Group; Email: LM_emea@hsbc.com) and RBC Europe Limited
(Telephone: +44 20 7029 7927; Attention: Liability Management
Group; Email: liability.management@rbccm.com) are acting as Joint
Dealer Managers and Lucid Issuer Services Limited (Telephone: +44
20 7704 0880; Attention: Thomas Choquet; Email:
eversholt@lucid-is.com) is acting as Tender Agent.
This announcement is released by Eversholt Funding 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 Offer described above. For the purposes of MAR and Article 2
of Commission Implementing Regulation (EU) 2016/1055, this
announcement is made by Andrea Wesson, Director at Eversholt
Funding 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 distribution of this announcement and the Tender Offer
Memorandum in certain jurisdictions may be restricted by law.
Persons into whose possession this announcement or the Tender Offer
Memorandum comes are required by the Offeror, the Company, the
Joint Dealer Managers and the Tender Agent to inform themselves
about, and to observe, any such restrictions.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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