Centrica PLC Centrica plc announces tender offer results

03/02/18 08:15 AM EST


RNS Number : 5656G

Centrica PLC

02 March 2018


2 March 2018


On 22 February 2018, Centrica plc (the "Company") announced offers to purchase for cash any and all of its 4.000% senior notes due 2023 (the "Any and All Notes") and up to US$250,000,000 in aggregate principal amount of its 5.375% senior notes due 2043 (the "Maximum Tender Notes" and together with the Any and All Notes, the "Securities"), subject to the offer and distribution restrictions, and upon the terms and subject to the conditions set forth in an offer to purchase dated 22 February 2018 (as amended or supplemented from time to time, the "Offer to Purchase"). The offer to purchase the Any and All Notes is referred to herein as the "Any and All Tender Offer" and the offer to purchase the Maximum Tender Notes is referred to herein as the "Maximum Tender Offer." The Any and All Tender Offer and the Maximum Tender Offer are referred to together herein as the "Tender Offers".

Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the Offer to Purchase. Copies of the Offer to Purchase are available, subject to the offer and distribution restrictions, from the Information and Tender Agent at www.lucid-is.com/centrica.

The Any and All Tender Offer expired at 5:00pm New York City time, yesterday, 1 March 2018 (the "Any and All Expiration Time").

According to information provided by the Tender and Information Agent, US$448,348,000 aggregate principal amount of the Any and All Notes were validly tendered at or prior to the Any and All Expiration Time and not validly withdrawn (approximately 59.78% of the principal amount of the Any and All Notes currently outstanding). As at the Any and All Expiration Time, no Notices of Guaranteed Delivery have been received in respect of any Any and All Notes.

The Company hereby confirms that it has accepted for purchase all Any and All Notes validly tendered and not validly withdrawn at or prior to the Any and All Expiration Time.

The Total Consideration payable in respect of such Any and All Notes is set forth in the table below.

                                                                          Principal Amount of    Outstanding Principal 
                                                                           Any and All Notes     Amount of Any and All 
                                                                         Accepted for Purchase      Notes Following 
                                                Total Consideration in                           Settlement of the Any 
                                                respect of the Any and                                  and All 
    Title of Security       CUSIP/ISIN Number         All Notes                                      Tender Offer 
-----------------------  --------------------  -----------------------  ----------------------  ---------------------- 
 US$750,000,000 4.000%           144A:             US$1,032.47 per          US$448,348,000          US$301,652,000 
 Senior Notes due 2023         15639KAA0/              US$1,000 
                           Reg S: G2071AAE0/ 

In addition, Noteholders whose Any and All Notes are purchased in the Any and All Tender Offer will be paid accrued and unpaid interest on their purchased Any and All Notes from the last interest payment date up to, but not including, the Any and All Settlement Date.

The Any and All Tender Offer has now expired and no further Any and All Notes can be tendered for purchase. All Any and All Notes accepted for purchase pursuant to the Any and All Tender Offer will be cancelled.

Any and All Notes that have not been successfully tendered for purchase and accepted by the Company pursuant to the Any and All Tender Offer and the terms and conditions set out in the Offer to Purchase will remain outstanding and will remain subject to the terms and conditions of such Any and All Notes.

The Any and All Settlement Date is expected to be 5 March 2018. The Early Tender Date for the Maximum Tender Offer is 8 March 2018 and the Maximum Tender Offer will expire on 22 March 2018.

For Further information

A complete description of the terms and conditions of the Tender Offers is set out in the Offer to Purchase. Further details about the Tender Offers can be obtained from:

The Company

Centrica plc


Maidenhead Road


Berkshire SL4 5GD

Investors and Analysts

Tel: +44 (0)1753 494900

Email: ir@centrica.com


Tel: +44 (0)1784 843000

Email: media@centrica.com


Tel: 01753 494165

Email: creditinvestor@centrica.com

The Joint Dealer Managers

Barclays Capital Inc.

745 Seventh Avenue, 5th Floor

New York, NY 10019

United States

Attention: Liability Management Group

Collect: 212-528-7581

Toll Free: 800-438-3242

Europe: +44 20 3134 8515

Email: liability.management@barclays.com

Citigroup Global Markets Limited

Citigroup Centre

Canada Square, Canary Wharf

London E14 5LB

Attn: Liability Management Group

London: +44 20 7986 8969

U.S. Toll-Free: +1 800 558 3745

U.S.: +1 212 723 6106

Email: liabilitymanagement.europe@citi.com

RBS Securities Inc.

600 Washington Boulevard

Stamford, CT 06901

United States

U.S.: +1 203-897 2963

Toll Free; +1 866 884 2071

International: +44 20 7678 5282

Attention: Liability Management

Email: LiabilityManagement@natwestmarkets.com

Société Générale

Tours Société Générale

17, Cours Valmy

92987 Paris La Défense Cedex


U.S. Toll Free: +1 855 881 2108

U.S.: +1 212 278 6957

Europe: +33 142 13 32 40

Attention: Liability Management

Email: liability.management@sgcib.com

The Information and Tender Agent

Lucid Issuer Services Limited

Tankerton Works

12 Argyle Walk

London WC1H 8HA

United Kingdom

Tel: +44 20 7704 0880

Fax: +44 20 3004 1590

Attention: Thomas Choquet

Email: centrica@lucid-is.com

If a Holder has questions about any of the Tender Offers or the procedures for tendering Securities, the Holder should contact the Tender and Information Agent, the Joint Dealer Managers or the Company at their respective telephone numbers. Documents relating to the Tender Offers are also available at www.lucid-is.com/centrica.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Centrica plc is listed on the London Stock Exchange (CNA)

Registered Office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD

Registered in England & Wales number: 3033654

Legal Entity Identifier number: E26EDV109X6EEPBKVH76

ISIN number: GB00B033F229

This information is provided by RNS

The company news service from the London Stock Exchange



(END) Dow Jones Newswires

March 02, 2018 08:15 ET (13:15 GMT)

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