Eversholt Funding PLC Final Results of its Tender Offer (1230R)

TIDM95EA

RNS Number : 1230R

Eversholt Funding PLC

25 June 2020

RBC Europe Limited announces Final Results of its Tender Offer for

Eversholt Funding plc's GBP400,000,000 6.359 per cent. Bonds due 2025

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 OR THE DISTRICT OF COLUMBIA OR IN OR INTO ANY OTHER JURISDICTION OR TO ANY OTHER PERSON WHERE OR TO WHOM IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

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.

25 June 2020.

Further to its announcement on 18 June 2020 and earlier today, RBC Europe Limited (the Offeror) today announces the final results of its invitation to holders of the GBP400,000,000 6.359 per cent. Bonds due 2025 (ISIN: XS0563638401) of Eversholt Funding plc (the Company) guaranteed by the Guarantors (as defined in the Tender Offer Memorandum) (the Bonds) to tender their Bonds for purchase by the Offeror for cash (the Offer).

The Offer was announced on 18 June 2020 and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 18 June 2020 (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 Offeror announces that (subject to satisfaction or waiver of the New Issue Condition on or prior to the Tender Offer Settlement Date) it has decided to accept for purchase all Bonds validly tendered pursuant to the Offer with no pro rata scaling. Accordingly, the Offeror will set the Final Acceptance Amount at GBP128,651,000 in aggregate nominal amount of the Bonds.

At around 1.00 p.m. (London time) today, the Joint Dealer Managers determined that the Purchase Price payable by the Offeror will be 124.098 per cent. of the nominal amount of the relevant Bonds. The Offeror will also pay Accrued Interest in respect of Bonds accepted for purchase pursuant to the Offer equal to 0.469 per cent. of the nominal amount of the relevant Bonds.

A summary of the final pricing details of the Offer appears below.

 
 Reference    Purchase   Purchase     Purchase     Accrued Interest 
  Gilt Rate    Spread      Yield        Price 
-----------  ---------  ----------  ------------  ----------------- 
 -0.108 per   180 bps    1.692 per   124.098 per      0.469 per 
    cent.                  cent.        cent.            cent. 
 

Settlement of the purchase of the relevant Bonds pursuant to the Offer is expected to take place on 29 June 2020.

BNP Paribas (Telephone: [phone]; Attention: Liability Management Group; Email: [e-mail]), HSBC Bank plc (Telephone: [phone]; Attention: Liability Management Group; Email: [e-mail]) and RBC Europe Limited (Telephone: [phone]; Attention: Liability Management Group; Email: [e-mail]) are acting as Joint Dealer Managers and Lucid Issuer Services Limited (Telephone: [phone]; Attention: Thomas Choquet; Email: [e-mail]) is acting as Tender Agent.

This announcement is released by Eversholt Funding 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 Offer described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Andrea Wesson, Director at Eversholt Funding 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 distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement or the Tender Offer Memorandum comes are required by the Offeror, the Company, the Joint Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

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 [e-mail] or visit www.rns.com.

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June 25, 2020 09:43 ET (13:43 GMT)