TIDMIHG
RNS Number : 3638B
InterContinental Hotels Group PLC
07 October 2020
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 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 OF AMERICA OR THE DISTRICT
OF COLUMBIA (the United States) OR ANY OTHER JURISDICTION OR TO ANY
OTHER PERSON WHERE OR TO WHOM IT IS UNLAWFUL TO RELEASE, PUBLISH OR
DISTRIBUTE THIS ANNOUNCEMENT
7 October 2020.
InterContinental Hotels Group PLC announces final results of its
tender offer for its GBP400,000,000 3.875 per cent. Notes due
2022
InterContinental Hotels Group PLC (the Company ) announces today
the final results of its invitation to holders of its
GBP400,000,000 3.875 per cent. Notes due 28 November 2022 (ISIN:
XS0859098351) guaranteed by Six Continents Limited and
InterContinental Hotels Limited (together, the Guarantors ) (the
Notes ) to tender their Notes for purchase by the Company for cash
(subject to the satisfaction (without limitation) or waiver of the
New Financing Condition on or prior to the Settlement Date (each as
defined below)) (the Offer ).
The Offer was announced on 29 September 2020 and was made on the
terms and subject to the conditions contained in the tender offer
memorandum dated 29 September 2020 (the Tender Offer Memorandum )
prepared by the Company. Capitalised terms used in this
announcement but not defined have the meanings given to them in the
Tender Offer Memorandum.
The Expiration Deadline of the Offer was 4.00p.m. London time on
Tuesday, 6 October 2020.
As at the Expiration Deadline, the Company had received valid
tenders of GBP227,470,000 in aggregate nominal amount of the Notes
for purchase.
The Company now announces that (subject to the satisfaction
(without limitation) or waiver of the New Financing Condition on or
prior to the Settlement Date) the Final Acceptance Amount will be
GBP227,470,000 in aggregate nominal amount of outstanding Notes.
Accordingly, (subject to the satisfaction (without limitation) or
waiver of the New Financing Condition on or prior to the Settlement
Date), the Company will accept for purchase all Notes validly
tendered pursuant to the Offer with no pro rata scaling.
Subject to the satisfaction (without limitation) or waiver of
the New Financing Condition on or prior to the Settlement Date, the
Purchase Price will be 104.40 per cent. of the principal amount of
the Notes and the Company will also pay Accrued Interest
Payments.
Subject to the satisfaction (without limitation) or waiver of
the New Financing Condition on or prior to the Settlement Date, the
expected Settlement Date for the Offer is Thursday, 8 October 2020.
Following settlement of the Offer, GBP172,530,000 in aggregate
nominal amount of the Notes will remain outstanding.
Barclays Bank PLC (Telephone: + 44 (0) 20 3134 8515; Attention:
Liability Management Group; Email: eu.lm@barclays.com) and BofA
Securities (Telephone: +44 (0) 20 7996 5420; Attention: Liability
Management Group; Email: DG.LM-EMEA@bofa.com) are acting as Dealer
Managers for the Offer and Lucid Issuer Services Limited
(Telephone: +44 (0) 20 7704 0880; Attention: Owen Morris; Email:
ihg@lucid-is.com) is acting as Tender Agent.
This announcement is released by the Company 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 Nicolette Henfrey, Company Secretary of
InterContinental Hotels Group PLC.
LEI Number: 2138007ZFQYRUSLU3J98
DISCLAIMER This announcement must be read in conjunction with
the Tender Offer Memorandum. No offer or invitation to acquire 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 and/or the Tender Offer
Memorandum comes are required by each of the Company, the
Guarantors, the Dealer Managers and the Tender Agent to inform
themselves about, and to observe, any such restrictions.
For further information please contact:
Investor Relations:
(Stuart Ford, Rakesh Patel) +44 (0)1895 512176 +44 (0)7527 419
431
Media Relations:
(Yasmin Diamond, Mark Debenham): +44 (0)1895 512097 +44 (0)7527 424 046
Notes to Editors:
IHG (R) (InterContinental Hotels Group) [LON:IHG, NYSE:IHG
(ADRs)] is a global organisation with a broad portfolio of hotel
brands, including Six Senses Hotels Resorts Spas , Regent Hotels
& Resorts , InterContinental (R) Hotels & Resorts , Kimpton
(R) Hotels & Restaurants , Hotel Indigo (R) , EVEN (R) Hotels ,
HUALUXE (R) Hotels and Resorts , Crowne Plaza (R) Hotels &
Resorts , voco(TM) , Holiday Inn (R) Hotels & Resorts , Holiday
Inn Express (R) , Holiday Inn Club Vacations (R) , avid(TM) hotels
, Staybridge Suites (R) , Atwell Suites(TM) , and Candlewood Suites
(R) .
IHG franchises, leases, manages or owns more than 5,900 hotels
and approximately 883,000 guest rooms in more than 100 countries,
with over 1,900 hotels in its development pipeline. IHG also
manages IHG (R) Rewards Club , our global loyalty programme, which
has more than 100 million enrolled members.
InterContinental Hotels Group PLC is the Group's holding company
and is incorporated in Great Britain and registered in England and
Wales. Approximately 400,000 people work across IHG's hotels and
corporate offices globally.
Visit www.ihg.com for hotel information and reservations and
www.ihgrewardsclub.com for more on IHG Rewards Club. For our latest
news, visit: https://www.ihgplc.com/en/news-and-media and follow us
on social media at: https://twitter.com/ihgcorporate ,
www.facebook.com/ihgcorporate and
www.linkedin.com/company/intercontinental-hotels-group
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