TP ICAP PLC Result of Tender Offer (1414A)
24 Maggio 2019 - 11:38AM
UK Regulatory
TIDMTCAP
RNS Number : 1414A
TP ICAP PLC
24 May 2019
TP ICAP plc announces the results of its Tender Offer in respect
of its
GBP500,000,000 5.250 per cent. Notes due 2024 (ISIN:
XS1555815494)
24 May 2019. On 16 May 2019, TP ICAP plc (the Company) announced
an invitation to eligible holders of its outstanding GBP500,000,000
5.250 per cent. Notes due 2024 (ISIN: XS1555815494) (the Notes) to
tender their Notes for purchase by the Company for cash up to the
Maximum Acceptance Amount, subject to satisfaction of the New
Financing Condition (the Offer).
The Offer was made on the terms and subject to the conditions
contained in a tender offer memorandum dated 16 May 2019 (the
Tender Offer Memorandum) prepared by the Company, and subject to
the offer restrictions set out in the Tender Offer Memorandum.
Capitalised terms used in this announcement but not defined have
the meanings given to them in the Tender Offer Memorandum.
The expiration deadline for the Offer was 4.00 p.m. (London
time) on 23 May 2019. The Company now announces the results of the
Offer.
Results of the Offer
The Company is pleased to announce that, conditional upon the
satisfaction or waiver of the New Financing Condition, it will
accept GBP68,625,000 in aggregate principal amount of Notes validly
tendered in the Tender Offer. The pricing and acceptance of the
Tender Offer is as follows:
Description ISIN / Aggregate Scaling Factor Purchase Price Aggregate
of the Notes Common Code Principal Amount Principal Amount
accepted for outstanding after
purchase the Settlement
Date
------------------ ------------------- ------------------ ------------------ ----------------- ------------------
GBP500,000,000 XS1555815494 / GBP68,625,000 No scaling will 104.00 per cent. GBP431,375,000
5.250 per cent. 155581549 be applied
Notes due 2024
------------------ ------------------- ------------------ ------------------ ----------------- ------------------
All Notes purchased by the Company will be cancelled and will
not be reissued or resold. Notes which have not been successfully
submitted and accepted for purchase pursuant to the Tender Offer
will remain outstanding after the Settlement Date.
The Settlement Date for the Offer (subject to the satisfaction
or waiver of the New Financing Condition) is expected to be 30 May
2019.
The New Financing Condition will be satisfied upon the
successful completion (in the sole determination of the Company) of
the issue of the New Notes. The completion of the issue of the New
Notes (and, accordingly, satisfaction of the New Financing
Condition) is currently expected to occur on 29 May 2019.
Contact Information
DEALER MANAGER
Merrill Lynch International
2 King Edward Street
London EC1A 1HQ
United Kingdom
Telephone: +44 20 7996 5420
Attention: Liability Management Group
Email: DG.LM_EMEA@baml.com
TENDER AND INFORMATION AGENT
Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom
Telephone: +44 20 7704 0880
Attention: David Shilson
Email: tpicap@lucid-is.com
MARKET ABUSE REGULATION
This announcement is released by TP ICAP 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 and proposed new issue of Notes described above. For
the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is made by Robin
Stewart, Chief Financial Officer of TP ICAP plc.
DISCLAIMER This announcement must be read in conjunction with
the Tender Offer Memorandum. The Offer has now expired.
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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May 24, 2019 05:38 ET (09:38 GMT)
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