Final Purchase Price to holders of outstanding U.S.$300m 0.625% Net Share Settled Convertible and/or Exchangeable Bonds 2021 ...
27 Marzo 2019 - 7:15PM
Final Purchase Price to holders of outstanding U.S.$300m 0.625% Net
Share Settled Convertible and/or Exchangeable Bonds 2021 to offer
to sell Bonds pursuant to fixed price tender offer process
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN
OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES,
ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR
THE DISTRICT OF COLUMBIA (INCLUDING PUERTO RICO, THE U.S. VIRGIN
ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA
ISLANDS) OR IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY
OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS PRESS
RELEASE
Aperam S.A. announces the Final Purchase
Price in relation to its invitation to holders of its outstanding
U.S.$300,000,000 0.625 per cent. Net Share Settled Convertible
and/or Exchangeable Bonds due 2021 (ISIN XS1084287322) (the
“Bonds”) convertible into common shares of Aperam S.A. to offer to
sell their Bonds pursuant to a fixed price tender offer
process
Luxembourg, 27 March 2019, 7:15 p.m. CET –
Aperam S.A. (“Aperam” or the “Purchaser”) announces
the Final Purchase Price in relation to its invitation to holders
of the Bonds (the “Bondholders”) to offer to sell any and
all of their Bonds to the Purchaser for cash. The Purchaser expects
to purchase U.S.$137.0 million in aggregate principal amount of
Bonds pursuant to the Invitation.
The Final Purchase Price has been set at
107.02%, equating to U.S..$214,037 for each U.S.$200,000 in
principal amount of the Bonds. The Final Purchase Price was
calculated on the basis of a USD VWAP Change of -1.27%, determined
in the manner described in the term sheet and initial press release
relating to the Invitation.
In addition, the Purchaser will pay a cash
amount representing accrued but unpaid interest on each
U.S.$200,000 in principal amount of the Bonds from (and including)
8 January 2019, being the immediately preceding interest payment
date applicable to the Bonds to (but excluding) the Invitation
Settlement Date (as defined below) (the “Accrued Interest
Payment”). Based on an expected Invitation Settlement
Date of 2 April 2019, the Accrued Interest Payment is expected to
be U.S.$291.67.
Settlement of the Invitation is expected to
occur on 2 April 2019 (the “Invitation Settlement Date”).
The Sole Dealer Manager (as defined below) is acting as Settlement
Agent on behalf of the Purchaser. Settlement of the Invitation with
investors by the Sole Dealer Manager is contingent on prior receipt
by the Sole Dealer Manager of the aggregate purchase funds from the
Purchaser.
Citigroup Global Markets Limited has acted as
Sole Dealer Manager in connection with the Invitation (the “Sole
Dealer Manager”), which was conducted by solicitation of
indications from certain Bondholders, in accordance with applicable
law, as part of a fixed price tender offer process.
Contact details of the Sole Dealer Manager are
as follows:
Citigroup Global Markets Limited Citigroup Centre 33 Canada
Square London E14 5LB United Kingdom
Attn: Equity Syndicate Desk Tel: + 44 20 7986 0015 Fax: + 44 20
3364 2134 E-mail: emeaecm.notices@citi.com
Attn: Equity-Linked SalesTel: +44 20 7986
0390E-mail: gary.sheldon@citi.com
About Aperam
Aperam is a global player in stainless, electrical and specialty
steel, with customers in over 40 countries. The business is
organized in three primary operating segments: Stainless &
Electrical Steel, Services & Solutions and Alloys &
Specialties. Aperam has 2.5 million tonnes of flat Stainless and
Electrical steel capacity in Brazil and Europe and is a leader in
high value specialty products. Aperam has a highly integrated
distribution, processing and services network and a unique
capability to produce stainless and specialty from low cost biomass
(charcoal). Its industrial network is spread in six production
facilities located in Brazil, Belgium and France. In 2018, Aperam
had sales of EUR 4,677 million and steel shipments of 1.97 million
tonnes. For further information, please refer to our website at
www.aperam.com
Contact
Corporate Communications / Laurent Beauloye: +352 27 36 27
103Investor Relations / Thorsten Zimmermann: +352 27 36 67
304
Inside information
This press release relates to the disclosure of
information that qualified, or may have qualified, as inside
information within the meaning of Article 7(1) of the EU Market
Abuse Regulations.
IMPORTANT NOTICE
This press release does not constitute an
invitation to participate in the Invitation in any jurisdiction and
does not constitute or form part of an offer to sell or the
solicitation of an offer to subscribe for or otherwise acquire any
securities. The distribution of this press release in certain
jurisdictions may be restricted by laws and regulations. Persons
into whose possession this press release comes are required by each
of the Purchaser and the Sole Dealer Manager to inform themselves
about and to observe any such restrictions.
Neither the Sole Dealer Manager nor any of its
directors, employees or affiliates makes any representation or
recommendation whatsoever regarding this press release or the
Invitation. The Sole Dealer Manager is acting on behalf of the
Purchaser and no one else in connection with the Invitation and
will not be responsible to any other person for providing the
protections afforded to clients of the Sole Dealer Manager, or for
providing advice in connection with the Invitation.
No person has been authorised to give any
information or to make any representation other than those
contained in this press release in connection with the Invitation
and, if given or made, such information or representation must not
be relied upon as having been authorised by the Purchaser or the
Sole Dealer Manager. Neither the delivery of this press release nor
any purchase of Bonds pursuant to the Invitation shall, under any
circumstances, constitute a representation or create any
implication that there has been no change in the affairs of the
Purchaser since the date of this press release or that the
information contained in this press release is correct as of any
time subsequent to the date of this press release.
Subject to applicable laws, the Purchaser and
its affiliates may at any time and from time to time, following
completion of the Invitation, purchase remaining outstanding Bonds
by tender, in the open market or by private agreement, or redeem
the Bonds by exercising the call option under the terms and
conditions of the Bonds, in each case, on such terms and at such
prices as the Purchaser or its affiliates may determine. Such
terms, consideration and prices may be more or less favourable than
those offered pursuant to the Invitation.
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