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Name | Symbol | Market | Type |
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Saudi.araba 27u | LSE:93GS | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
TIDM93GS
RNS Number : 0694E
Kingdom of Saudi Arabia (The)
25 October 2022
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE THE DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL (SEE "OFFER AND DISTRIBUTION RESTRICTIONS" IN THE TENDER OFFER MEMORANDUM).
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7 OF (I) THE MARKET ABUSE REGULATION (EU) 596/2014 AND (II) THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
THE KINGDOM OF SAUDI ARABIA (ACTING THROUGH THE MINISTRY OF FINANCE) ANNOUNCES INDICATIVE RESULTS IN RELATION TO THE TENDER OFFERS FOR ITS (I) U.S.$3,000,000,000 2.875 PER CENT. NOTES DUE 2023, (II) U.S.$4,500,000,000 4.000 PER CENT. NOTES DUE 2025, (III) U.S.$2,500,000,000 2.900 PER CENT. NOTES DUE 2025 AND (IV) U.S.$5,500,000,000 3.250 PER CENT. NOTES DUE 2026
25 October 2022
Further to the announcements dated 18 and 19 October 2022, the Kingdom of Saudi Arabia (acting through the Ministry of Finance) (the Issuer) announces today the indicative results in relation to its invitation to holders of its (i) U.S.$3,000,000,000 2.875 per cent. Notes due 2023 (the 2023 Notes), (ii) U.S.$4,500,000,000 4.000 per cent. Notes due 2025 (the April 2025 Notes), (iii) U.S.$2,500,000,000 2.900 per cent. Notes due 2025 (the October 2025 Notes) and (iv) U.S.$5,500,000,000 3.250 per cent. Notes due 2026 (the 2026 Notes) (each a Series and together the Notes) to tender their Notes for purchase by the Issuer for cash (each such invitation an Offer and together the Offers).
Capitalised terms used in this announcement but not defined have the meanings given to them in the tender offer memorandum dated 18 October 2022 (the "Tender Offer Memorandum").
Indicative Results
The Expiration Deadline for the Offers was 5.00 p.m. (New York City time) on 24 October 2022.
As at the Expiration Deadline, the Issuer had received tenders of Notes for purchase pursuant to the Offers in respect of each Series, and hereby gives a non-binding indication of (i) the aggregate principal amount of the Notes of each such Series that it intends to accept for purchase (the Non-Binding Indicative Series Acceptance Amount) and (ii) the final aggregate principal amount of Notes that it intends to accept for purchase pursuant to the Offers (the Non-Binding Indicative Final Acceptance Amount), in each case as set out below:
Series of Notes Non-Binding Indicative Series Acceptance Amount Non-Binding Indicative Final Acceptance Amount 2023 Notes U.S.$632,543,000 ------------------------------------------------ ----------------------------------------------- April 2025 Notes U.S.$249,387,000 ------------------------------------------------ October 2025 Notes U.S.$98,892,000 ------------------------------------------------ 2026 Notes U.S.$287,675,000 U.S.$1,268,497,000 ------------------------------------------------ -----------------------------------------------
The Issuer intends (subject to satisfaction or waiver of the New Financing Condition on or prior to the Settlement Date) to accept all valid tenders of Notes pursuant to the Offers for purchase without scaling.
Pricing is expected to take place at or around 10.00 a.m. (New York City time) today (the Pricing Time). As soon as reasonably practicable after the Pricing Time, the Issuer will announce (i) its decision of whether to accept (subject to satisfaction or waiver of the New Financing Condition on or prior to the Settlement Date) valid tenders of Notes pursuant to the Offers and, if so accepted, (ii) the Final Acceptance Amount, (iii) each Series Acceptance Amount and, in respect of the Notes of each Series accepted for purchase, (iv) any Scaling Factor (if applicable), (v) the Benchmark Security Rate, (vi) the Purchase Yield and (vii) the Purchase Price.
The expected Settlement Date for the Offers (subject to satisfaction or waiver of the New Financing Condition) is 27 October 2022.
The Offers have now expired and no further Notes can be tendered for purchase.
Questions and requests for assistance in connection with the Offers may be directed to the Dealer Managers or the Tender and Information Agent.
The Dealer Managers BNP Paribas Goldman Sachs International 16, boulevard des Italiens Plumtree Court 75009 Paris 25 Shoe Lane France London EC4A 4AU Telephone: +33 1 55 77 78 94 United Kingdom Attention: Liability Management Group Telephone: +44 (0)20 7552 6157 Email: liability.management@bnpparibas.com Attention: Liability Management Group Email: liabilitymanagement.eu@gs.com HSBC Bank plc 8 Canada Square London E14 5HQ United Kingdom Telephone: +44 (0)20 7992 6237 Attention: Liability Management, DCM Email: liability.management@hsbcib.com In the United States : Toll-free: +1 (888) HSBC-4LM Collect: +1 (212) 525-5552 The Tender and Information Agent Kroll Issuer Services Limited The Shard 32 London Bridge Street London SE1 9SG United Kingdom Telephone: +44 (0) 20 7704 0880 Attention: Arlind Bytyqi Email: ksa@is.kroll.com Tender Offer Website: https://deals.is.kroll.com/ksa
DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. 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 the Tender Offer Memorandum comes are required by each of the Issuer, the Dealer Managers and the Tender and Information Agent to inform themselves about, and to observe, any such restrictions.
This announcement is released by the Kingdom of Saudi Arabia (acting through the Ministry of Finance) and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of (i) the Market Abuse Regulation (EU) 596/2014 (EU MAR) and (ii) the Market Abuse Regulation (EU) 596/2014 (UK MAR) as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, encompassing information relating to the Offers described above. For the purposes of EU MAR and UK MAR and Article 2 of (i) Commission Implementing Regulation (EU) 2016/1055 and (i) Commission Implementing Regulation (EU) 2016/1055 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, this announcement is made by Hani Almedaini, Chief Executive Officer at National Debt Management Centre.
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States or any other jurisdiction. The securities referred to in this announcement may not be offered, sold or delivered in the United States absent registration under, or an exemption from the registration requirements of, the United States Securities Act of 1933, as amended (the Securities Act). The securities referred to in this announcement have not been, and will not be, registered under the Securities Act, or the securities laws of any state or other jurisdiction of the United States, and such securities may not be offered, sold or delivered, directly or indirectly, within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.
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.
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END
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(END) Dow Jones Newswires
October 25, 2022 09:24 ET (13:24 GMT)
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