ZPG PLC Pricing of £200 million Senior Notes due 2023 (6670B)
12 January 2018 - 4:01AM
UK Regulatory
TIDMZPG
RNS Number : 6670B
ZPG PLC
11 January 2018
11 January 2018
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF ZPG PLC. NOT FOR DISTRIBUTION IN OR INTO THE
UNITED STATES OR OTHERWISE THAN TO PERSONS WHOM IT CAN BE LAWFULLY
DISTRIBUTED. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS
ANNOUNCEMENT.
ZPG Plc (the "Company")
Pricing of GBP200 million Senior Notes due 2023
ZPG Plc announces today that it has priced its offering (the
"Offering") of GBP200 million senior notes due 2023 (the "Notes")
at 3.75%.
The offering is expected to close on 18 January 2018 upon the
satisfaction or waiver of customary closing conditions. The
proceeds of the issue and sale of the Notes (the "Refinancing"),
will be used, together with borrowings under the new revolving
credit facility, to: (i) repay all amounts outstanding under our
existing revolving credit facility; (ii) repay amounts outstanding
under our existing term loans; and (iii) pay certain costs,
expenses and fees related to, the Refinancing.
The proposed new debt package is expected to strengthen the
Company's financial position by offering it increased financial
flexibility, providing a more stable and appropriate capital
structure and allowing it to secure attractive interest rates for
the next 5 years. The new bond issuance and bank facilities are
expected to support the Company's strategy for further continued
profitable growth with a more efficient capital structure.
Andy Botha, Chief Financial Officer ZPG Plc said, "I am very
pleased with the strong demand for our new bond which has received
support from a broad range of investors . We have achieved
market-leading pricing for our credit rating, secured attractive
interest rates for the next 5 years and significantly improved the
capital structure of the business."
There will be no public offering of the Notes. The Notes are
being offered and sold in offshore transactions outside the United
States in compliance with Regulation S under the U.S. Securities
Act of 1933, as amended (the "U.S. Securities Act"). The Notes may
not be offered, sold or delivered within the United States (as
defined in Regulation S under the U.S. Securities Act), except
pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the U.S. Securities Act.
Important notice
This press release shall not constitute an offer of securities
for sale in the United States or any other jurisdiction. The
securities have not been, and will not be, registered under the
U.S. Securities Act or the securities laws of any state of the
United States or any other jurisdiction and the securities may not
be offered or sold within the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the U.S. Securities Act and applicable
state or local securities laws.
This announcement is for informational purposes only and is
directed only at persons who are located outside the United States
and are (a) persons in member states of the European Economic Area
(the "EEA") who are qualified investors (as defined in EU
Prospectus Directive 2003/71/EC (as amended, including by EU
Directive 2010/73/EU to the extent implemented in the relevant
member state)); (b) persons in the United Kingdom who are qualified
investors and who are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order"); or (ii) persons
falling within Article 49(2) (a) to (d) of the Order; or (iii)
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 lawfully be communicated or caused to be
communicated (all such persons in (a) and (b) together being
referred to as "relevant persons"). This announcement must not be
acted on or relied on by persons who are not relevant persons. 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.
MiFID II professionals/ECPs-only/No PRIIPs KID. Manufacturer
target market (MIFID II product governance) is eligible
counterparties and professional clients only (all distribution
channels). No PRIIPs key information document (KID) has been
prepared as not available to retail in EEA.
This announcement contains inside information.
ENDS
For further information:
Rachael Malcolm, Head of Investor Relations -
rachael.malcolm@zpg.co.uk / +44 (0)203 8725 648
Lawrence Hall, Director of Communications -
lawrence.hall@zpg.co.uk / +44 (0)7890 078 945
Ned Staple, General Counsel and Company Secretary -
ned.staple@zpg.co.uk / +44(0)203 872 5658
Ondra LLP acted as financial adviser to ZPG Plc on this
transaction
This information is provided by RNS
The company news service from the London Stock Exchange
END
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