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Name | Symbol | Market | Type |
---|---|---|---|
WPP PLC | NYSE:WPP | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.55 | 1.09% | 51.07 | 51.67 | 50.97 | 51.37 | 136,066 | 01:00:00 |
TIDMWPP
RNS Number : 9263T
WPP PLC
25 March 2019
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 TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED) ("U.S. PERSON") OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (TOGETHER, THE "UNITED STATES") OR INTO ANY OTHER JURISDICTION OR TO ANY OTHER PERSON WHERE OR TO WHOM IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
25 March 2019
WPP FINANCE S.A.
ANNOUNCEMENT OF PRICING OF THE TENDER OFFER AND THE CONSENT SOLICITATION
Earlier today, WPP Finance S.A. (the Offeror) announced the results of the Tender Offer and the Proposal in respect of its outstanding GBP200,000,000 6.375 per cent. Guaranteed Bonds due 2020 (ISIN: XS0329581333) (the Bonds).
Capitalised terms used in this announcement, and not otherwise defined, have the meanings given to them in the tender offer and consent solicitation memorandum dated 28 February 2019 (the Offer Memorandum).
Notice is hereby given to Bondholders that: (i) the Early Purchase Price will be 108.629 per cent. of the principal amount of the relevant Bonds (being GBP1,086.29 per GBP1,000 in principal amount of the relevant Bonds), based on an Early Purchase Yield of 0.956 per cent.[1]; (ii) the Late Purchase Price will be 107.629 per cent. of the principal amount of the relevant Bonds (being GBP1,076.29 per GBP1,000 in principal amount of the relevant Bonds); and (iii) the Mandatory Redemption Price will be 107.629 per cent. of the principal amount of the Bonds (being GBP1,076.29 per GBP1,000 in principal amount of the relevant Bonds).
The Offeror will also pay, on the Settlement Date, an Accrued Interest Payment of GBP24.63 in respect of each GBP1,000 outstanding principal amount of Bonds accepted for purchase pursuant to the Tender Offer.
The expected Settlement Date and the expected Mandatory Redemption Date is 27 March 2019.
DEALER MANAGERS Barclays Bank PLC NatWest Markets Plc 5 The North Colonnade 250 Bishopsgate Canary Wharf London EC2M 4AA London E14 4BB United Kingdom United Kingdom Telephone: +44 (0) 20 7678 5222 Telephone: +44 (0) 20 3134 8515 Attention: Liability Management Attention: Liability Management Email: liabilitymanagement@natwestmarkets.com Group Email: eu.lm@barclays.com TENDER AND TABULATION AGENT Lucid Issuer Services Limited Tankerton Works 12 Argyle Walk London WC1H 8HA United Kingdom Telephone: +44 20 7704 0880 Attention: Thomas Choquet Email: wpp@lucid-is.com
This announcement is released by WPP Finance S.A. and contains information in relation to the Bonds 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 Tender Offer, the Consent Solicitation and/or the Proposal described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Paul Richardson, Group Finance Director.
DISCLAIMER
This announcement must be read in conjunction with the Offer Memorandum. No offer or invitation to acquire any securities is being made pursuant to this announcement. The distribution of this announcement and the Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Offer Memorandum comes are requested by each of the Offeror, the Trustee, the Dealer Managers and the Tender and Tabulation Agent to inform themselves about and to observe any such restrictions.
[1] The Early Purchase Yield is the annualised sum of the Tender Spread and the Benchmark Security Rate and for the purposes of this announcement has been rounded to the nearest 0.001 per cent. with 0.0005 per cent. being rounded upwards.
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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(END) Dow Jones Newswires
March 25, 2019 11:24 ET (15:24 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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