OErsted A/S (65XG) Tender Offer for Senior Bonds - final results 23-Nov-2017 / 15:49 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. NOT FOR 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 (THE âUNITED STATESâ) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. Ãrsted A/S (formerly known as DONG Energy A/S) (the âOfferorâ) announces today the results and pricing of its invitation to holders of its EUR 500,000,000 6.500% Notes due 7 May 2019 (of which EUR 306,213,000 is currently outstanding) (the â2019 Notesâ), its EUR 500,000,000 4.875% Notes due 16 December 2021 (of which EUR 360,373,000 is currently outstanding) (the â2021 Notesâ) and its EUR 750,000,000 2.625% Notes due 19 September 2022 (of which EUR 602,010,000 is currently outstanding) (the â2022 Notesâ, and together with the 2019 Notes and the 2021 Notes, the âNotesâ and each a âSeriesâ) to tender such Notes for purchase by the Offeror for cash (each such invitation, an âOfferâ and together, the âOffersâ). The Offers were announced on 16 November 2017 and were made, subject to satisfaction or waiver of the New Financing Condition and subject to the other terms and conditions contained in the tender offer memorandum dated 16 November 2017 (the âTender Offer Memorandumâ) prepared by the Offeror. 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 Offers was 17.00 (CET) on 22 November 2017. As at the Expiration Deadline, EUR 191,220,000 in aggregate principal amount of the Notes had been validly tendered pursuant to the Offers. The Offeror confirms that the New Financing Condition has been satisfied. Following the Expiration Deadline, the Offeror hereby announces that it has decided to (i) set the Final Acceptance Amount (being the aggregate principal amount of Notes validly tendered and accepted for purchase) at EUR 191,220,000, and (ii) accept for purchase any and all Notes validly tendered pursuant to the Offers, without scaling, as set out below. The Purchase Price in respect of the 2022 Notes accepted for purchase was determined at or around 14.00 (CET) today; the Purchase Price in respect of the 2019 Notes and the 2021 Notes was determined on the basis of a fixed yield as described in the Tender Offer Memorandum, all as set out below. Description: EUR 500,000,000 6.500% Notes due 7 May 2019 ISIN: XS0426738976 Interpolated Mid-Swap Rate: N/A Purchase Spread: N/A Purchase Yield: -0.35% Purchase Price: 109.973 % Accrued Interest: 3.5795% Series Acceptance Amount: EUR 26,012,000 Pro-ration Factor: N/A Principal amount outstanding after Settlement Date: EUR 280,201,000 Description: EUR 500,000,000 4.875% Notes due 16 December 2021 ISIN: XS0473783891 Interpolated Mid-Swap Rate: N/A Purchase Spread: N/A Purchase Yield: -0.05% Purchase Price: 120.022% Accrued Interest: 4.5812% Series Acceptance Amount: EUR 80,438,000 Pro-ration Factor: N/A Principal amount outstanding after Settlement Date: EUR 279,935,000 Description: EUR 750,000,000 2.625% Notes due 19 September 2022 ISIN: XS0829114999 Interpolated Mid-Swap Rate: 0.185% Purchase Spread: -10bps Purchase Yield: 0.085% Purchase Price: 112.210% Accrued Interest: 0.4747% Series Acceptance Amount: EUR 84,770,000 Pro-ration Factor: N/A Principal amount outstanding after Settlement Date: EUR 517,240,000 The applicable Purchase Price together with Accrued Interest will be paid to Noteholders whose Notes have been accepted for purchase by the Offeror. Settlement is expected to occur on 24 November 2017. The information in this announcement does not change Ãrstedâs financial guidance for the financial year 2017 or the announced expected investment level for 2017. Further information Media Relations Martin Barlebo +45 99 55 95 52 Investor Relations Henrik Brünniche Lund +45 99 55 97 22 Head of Finance DCS, Treasury & Risk Management Allan Bødskov Andersen +45 99 55 97 69 DISCLAIMER The offer period for the Offers has now expired. No further tenders of any Notes may be made pursuant to the Offers. This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which should be read carefully. If any Noteholder is in any doubt as to the contents of this announcement and/or the Tender Offer Memorandum or the action it should take, it is recommended to seek its own financial advice, including in respect of any tax consequences, from its broker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. The Dealer Managers and the Tender Agent do not accept any responsibility for the accuracy or completeness of the information contained in this announcement or the Tender Offer Memorandum including (without limitation) information concerning the Offeror or its subsidiaries and affiliates or for any failure by the Offeror to disclose events that may have occurred and may affect the significance or accuracy of such information. The Ãrsted vision is a world that runs entirely on green energy. Ãrsted develops, constructs and operates offshore wind farms, bioenergy plants and innovative waste-to-energy solutions and provides smart energy products to its customers. Headquartered in Denmark, Ãrsted employs 5,600 people. Ãrstedâs shares are listed on Nasdaq Copenhagen (Orsted). In 2016, the companyâs revenue was DKK 61 billion (EUR 8.2 billion). For more information on Ãrsted, visit orsted.com or follow us on Facebook, LinkedIn, Instagram and Twitter.
Click on, or paste the following link into your web browser, to view the associated documents https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=654367 |
ISIN: | XS0253170335 |
Category Code: | MSC |
TIDM: | 65XG |
Sequence No.: | 4913 |
End of Announcement | EQS News Service |
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632287 23-Nov-2017