Cadent Finance PLC Maximum Acceptance Amount for Tender Offer (2980E)
29 Junho 2023 - 4:00AM
UK Regulatory
TIDM49UW TIDMTTM
RNS Number : 2980E
Cadent Finance PLC
29 June 2023
Cadent Finance plc announces that the Maximum Acceptance Amount
is EUR500,000,000
in respect of its Tender Offer
for its EUR750,000,000 Fixed Rate Instruments due 2024
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE
PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014
AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO
ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS
TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN
ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA
ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT
OF COLUMBIA OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF
THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN OR INTO
ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR
DISTRIBUTE THIS ANNOUNCEMENT
29 June 2023 . Cadent Finance plc (formerly known as National
Grid Gas Finance plc) (the Offeror) announces today that the
Maximum Acceptant Amount is EUR500,000,000 in respect of its
invitation to holders of its EUR750,000,000 Fixed Rate Instruments
due 2024 (ISIN: XS1493320656) (the Instruments) guaranteed by
Cadent Gas Limited (formerly known as National Grid Gas
Distribution Limited) (the Guarantor) to tender their Instruments
for purchase by the Offeror for cash (the Offer).
The Offer was announced on 26 June 2023 and was made on the
terms and subject to the conditions contained in the tender offer
memorandum dated 26 June 2023 (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 is 4.00 p.m. (London time)
on 4 July 2023. An announcement by the Offeror of the aggregate
nominal amount of the Instruments which were validly tendered for
purchase pursuant to the Offer, together with a non-binding
indication of the level at which the Offeror expects to set the
Final Acceptance Amount (and indicative details of any pro rata
scaling) is expected to be made prior to the Pricing Time on 5 July
2023.
Barclays Bank PLC ( Telephone: 44 20 3134 8515; Attention
Liability Management Group; Email: eu.lm@barclays.com); BNP Paribas
(Telephone: +33 1 55 77 78 94; Attention: Liability Management
Group; Email: liability.management@bnpparibas.com ); Cr édit
Agricole Corporate and Investment Bank (Telephone: +44 20 7214
5733; Attention: Liability Management; Email:
liability.management@ca-cib.com); Mizuho International plc
(Telephone: +44 20 7090 6134; Attention: Liability Management;
Email: liabilitymanagement@uk.mizuho-sc.com); SMBC Nikko Capital
Markets Limited (Telephone: +44 204 507 5043; Attention: Liability
Management; Email: liability.management@smbcnikko-cm.com ) are
acting as Dealer Managers and Kroll Issuer Services Limited
(Telephone: +44 20 7704 0880; Attention: Owen Morris; Email:
cadent@is.kroll.com; Website: https://deals.is.kroll.com/cadent) is
acting as Tender Agent.
This announcement is released by the Offeror 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 as it forms part of UK domestic law by
virtue of the EUWA (UK MAR), encompassing information relating to
the Offer described above. For the purposes of UK MAR and the
Implementing Technical Standards, this announcement is made by Tom
Sacker (Director of Treasury, Corporate Finance and Planning), as
attorney for Cadent Finance plc.
DISCLAIMER This announcement must be read in conjunction with
the Tender Offer Memorandum. No offer or invitation to acquire any
securities is being made pursuant to this announcement. The
distribution of this announcement and the Tender Offer Memorandum
in certain jurisdictions may be restricted by law. Persons into
whose possession this announcement and/or the Tender Offer
Memorandum comes are required by each of the Offeror, the
Guarantor, the Dealer Managers and the Tender Agent to inform
themselves about, and to observe, any such restrictions.
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END
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June 29, 2023 03:00 ET (07:00 GMT)
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