SEGRO PLC FINAL RESULTS OF THE TENDER OFFERS (7349S)

TIDMSGRO

RNS Number : 7349S

SEGRO PLC

04 October 2017

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, 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 OR THE DISTRICT OF COLUMBIA (the United States) OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

SEGRO plc (the Company)

LEI: 213800XC35KGM9NFC641

4 October 2017

SEGRO plc ANNOUNCES FINAL RESULTS OF THE TENDER OFFERS

On 25 September 2017, SEGRO plc (the Company) launched separate invitations to holders of its outstanding (a) 6.750 per cent. Notes due 2021 (ISIN: XS0469028319) (the 2021 Notes), (b) 7.000 per cent. Notes due 2022 (ISIN: XS0125077122) (the 2022 Notes), (c) 6.750 per cent. Notes due 2024 (ISIN: XS0107099466) (the 2024 Notes), (d) 6.000 per cent. Notes due 2019 (ISIN: XS0179346274) (the 2019 Notes); and (e) 5.625 per cent. Notes due 2020 (ISIN: XS0236149877) (the 2020 Notes) (the 2021 Notes, the 2022 Notes, the 2024 Notes, the 2019 Notes and the 2020 Notes, together the Notes), to tender their Notes for purchase by the Company for cash (each an Offer and together, the Offers), subject to applicable offer and distribution restrictions. The Company announced the indicative results of the Offers earlier today.

Capitalised terms used and not otherwise defined in this announcement have the meanings given in the tender offer memorandum dated 25 September 2017 (the Tender Offer Memorandum).

The Company announces that it will (subject to satisfaction or waiver of the New Issue Condition) accept for purchase in cash an aggregate principal amount of Notes validly tendered pursuant to the Offers equal to GBP549,547,000. The Company will not be accepting for purchase any of the 2020 Notes tendered for purchase pursuant to the Offers. The final results of the Offers are as follows:

 
 Description    Coupon    ISIN / Common      Aggregate         Aggregate        Scaling      Purchase     Purchase    Purchase 
 of the Notes                 Code           Principal         Principal        Factor      Yield (per   Price (per    Spread 
                                          Amount of Notes   Amount of Notes   (per cent.)     cent.)       cent.) 
                                             tendered        accepted for 
                                                               purchase 
                 6.750 
                  per     XS0469028319                                            Not 
  2021 Notes     cent.     / 046902831    GBP220,697,000    GBP220,697,000     Applicable     1.205       122.204      60 bps 
                 7.000 
                  per     XS0125077122                                            Not 
  2022 Notes     cent.     / 012507712    GBP110,876,000    GBP110,876,000     Applicable     1.254       124.657      60 bps 
                 6.750 
                  per     XS0107099466                                            Not 
  2024 Notes     cent.     / 010709946    GBP142,628,000    GBP142,628,000     Applicable     1.673       130.538      67 bps 
                 6.000 
                  per     XS0179346274                                            Not 
  2019 Notes     cent.     / 017934627     GBP75,346,000     GBP75,346,000     Applicable     0.955       109.820      55 bps 
 

The Offers remain subject to the conditions and restrictions set out in the Tender Offer Memorandum.

Whether the Company will purchase any Notes validly tendered in the Offers is subject, without limitation, to the signing by the Company and the respective Managers in respect of the New Issue of a subscription agreement for the purchase of, and subscription for, the New Notes (the New Issue Condition). The New Issue Condition may be waived by the Company.

Subject to the satisfaction (or waiver) of the New Issue Condition, the expected Tender Offer Settlement Date is 11 October 2017.

Full details concerning the Offers are set out in the Tender Offer Memorandum.

Questions and requests for assistance in connection with the Offers, may be directed to the Dealer Managers and the Tender Agent, the contact details for both of which are set out below.

HSBC Bank plc (Telephone: [phone]; Attention: Liability Management Group; Email: [e-mail]), Lloyds Bank plc (Telephone[phone]; Attention: Liability Management Group; Email: [e-mail]) and Banco Santander, S.A. (Telephone[phone] / 6646; Attention: Liability Management; Email: [e-mail] / [e-mail]) are acting as Dealer Managers, The Royal Bank of Scotland plc (trading as NatWest Markets) is acting as Co Dealer Manager and Lucid Issuer Services Limited (Telephone: [phone]; Attention: David Shilson; Email: [e-mail]) is acting as Tender Agent.

This announcement is released by SEGRO 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 Offers described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Elizabeth Blease, Group Company Secretary of SEGRO plc.

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire or sell any securities is being made pursuant to this announcement. The Dealer Managers do not take responsibility for the contents of 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 come into are required by each of the Company, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

Stephanie Murton

Legal Counsel

020 7451 9082

This information is provided by RNS

The company news service from the London Stock Exchange

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October 04, 2017 11:49 ET (15:49 GMT)