Reckitt Benckiser Group PLC Issue of Debt (8194I)
22 June 2017 - 4:00PM
UK Regulatory
TIDMRB.
RNS Number : 8194I
Reckitt Benckiser Group PLC
22 June 2017
Pricing Announcement
22 June 2017
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION REGARDING RECKITT
BENCKISER GROUP PLC
Reckitt Benckiser announces pricing of a US$7.75 billion
multi-tranche senior notes offering.
Reckitt Benckiser Group plc ("RB") (LSE: RBL) today announced
that Reckitt Benckiser Treasury Services plc, its indirect wholly
owned subsidiary ("RBTS"), had priced its offering of US$7.75
billion aggregate principal amount of senior notes in four
tranches, consisting of US$750 million Floating Rate Senior Notes
due 2022 (the "Floating Rate Notes"), US$2.5 billion Fixed Rate
Senior Notes due 2022 (the "2022 Fixed Rate Notes"), US$2 billion
Fixed Rate Senior Notes due 2024 (the "2024 Fixed Rate Notes") and
US$2.5 billion Fixed Rate Senior Notes due 2027 (the "2027 Fixed
Rate Notes" and, together with the 2022 Fixed Rate Notes and the
2024 Fixed Rate Notes, the "Fixed Rate Notes" and, the Fixed Rate
Notes together with the Floating Rate Notes, the "Notes"). The
Floating Rate Notes, the 2022 Fixed Rate Notes, the 2024 Fixed Rate
Notes and the 2027 Fixed Rate Notes were offered at a price of
100.000%, 99.906%, 99.892% and 99.700%, respectively.
The Floating Rate Notes will bear interest at a rate equal to 3
month US Dollar LIBOR plus 0.56% per annum. Interest on the
Floating Rate Notes is payable on 24 March, 24 June, 24 September
and 24 December of each year, beginning 24 September 2017. The 2022
Fixed Rate Notes, the 2024 Fixed Rate Notes and the 2027 Fixed Rate
Notes will bear interest at a rate of 2.375%, 2.750% and 3.000% per
annum, respectively. Interest on the 2022 Fixed Rate Notes is
payable on 24 June and 24 December of each year, beginning 24
December 2017. Interest on the 2024 Fixed Rate Notes and the 2027
Fixed Rate Notes is payable on 26 June and 26 December of each
year, beginning 26 December 2017. The Notes are expected to be
issued on or about 26 June 2017.
The Notes will be guaranteed by RB. The net proceeds of the
offering of the Notes will be used to refinance certain debt
facilities incurred to finance the acquisition of Mead Johnson
Nutrition Company by RB.
The offering is being made by means of an offering memorandum.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy the Notes or any other security and
shall not constitute an offer, solicitation or sale in the United
States or to U.S. persons (as defined in Regulation S under the
Securities Act ("Regulation S")) or in any jurisdiction in which,
or to any persons to whom, such offering, solicitation or sale
would be unlawful.
The Notes and the guarantees have not been, and will not be,
registered under the U.S. Securities Act of 1933, as amended (the
"Securities Act"), and, subject to certain exceptions, 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). The Notes
are being offered and sold outside the United States only to
non-U.S. persons in reliance on Regulation S and within the United
States to "qualified institutional buyers" in reliance on Rule 144A
under the Securities Act ("Rule 144A"). Prospective purchasers of
the Notes are hereby notified that the seller may be relying on the
exemption from the provisions of Section 5 of the Securities Act
provided by Rule 144A.
This announcement does not constitute an invitation or offer to
underwrite, subscribe for or otherwise acquire or dispose of any
securities nor is it intended to be an inducement to engage in
investment activity for the purpose of Section 21 of the Financial
Services and Markets Act 2000 of the United Kingdom.
This announcement is directed only at (i) persons who are
outside the United Kingdom, (ii) persons in the United Kingdom who
have professional experience in matters related to investments and
who are investment professionals within the meaning of Article
19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended) of the United Kingdom (the
"Financial Promotion Order"); (iii) persons who fall within
Articles 49(2)(a) to (d) ("high net worth companies, unincorporated
associations etc.") of the Financial Promotion Order; and (iv) any
other persons to whom this announcement may otherwise lawfully be
directed (all such persons together being referred to as "relevant
persons"). This announcement must not be acted on or relied on by
other persons in the United Kingdom. Any investment or investment
activity to which this announcement relates is available only to
relevant persons and will be engaged in only with relevant persons.
This announcement must not be acted on or relied on by persons who
are not relevant persons.
If and to the extent that this announcement is communicated in,
or the offer of the securities to which it relates is made in, any
EEA Member State before the publication of a prospectus in relation
to the securities which has been approved by the competent
authority in that Member State in accordance with Directive
2003/71/EC as amended (together with any applicable implementing
measures in any Member State, the "Prospectus Directive") (or which
has been approved by a competent authority in another Member State
and notified to the competent authority in that Member State in
accordance with the Prospectus Directive), this announcement and
the offer are only addressed to and directed at persons in that
Member State who are qualified investors within the meaning of the
Prospectus Directive (or who are other persons to whom the offer
may lawfully be addressed) and must not be acted on or relied on by
other persons in that Member State.
This announcement is made on behalf of RB by Richard Joyce, SVP,
Investor Relations.
For further information, contact:
RB: +44 1753 217800
Richard Joyce- SVP, Investor Relations
Patty O'Hayer - Director, External Relations and Government
Affairs
Brunswick: +44 (0)20 7404 5959
Gabrielle Silver / David Litterick
Further information
Reckitt Benckiser Group plc's LEI code is
5493003JFSMOJG48V108
Important notice
This announcement is not for release, publication or
distribution directly or indirectly, in whole or in part, into or
from any jurisdiction where to do so would constitute a violation
of the relevant laws of such jurisdiction. This announcement has
been prepared for the purposes of complying with applicable law and
regulation in the United Kingdom and the information disclosed may
not be the same as that which would have been disclosed if this
announcement had been prepared in accordance with the laws and
regulations of any jurisdiction outside of the United Kingdom.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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