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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 : 4079D
Kingdom of Saudi Arabia (The)
19 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" BELOW).
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 MAXIMUM ACCEPTANCE AMOUNT IN RELATION TO THE TER 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
19 October 2022
Further to the announcement dated 18 October 2022, the Kingdom of Saudi Arabia (acting through the Ministry of Finance) (the Issuer) announces today that the Maximum Acceptance Amount 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) has been set at U.S.$1,000,000,000 following pricing of the New Securities.
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").
Further Information
The Maximum Acceptance Amount is the maximum aggregate principal amount of Notes the Issuer proposes to accept for purchase pursuant to the Offers. The Maximum Acceptance Amount may be increased or decreased by the Issuer in its sole and absolute discretion and for any reason. The Issuer will determine the allocation of the final aggregate principal amount of Notes accepted for purchase pursuant to the Offers (the Final Acceptance Amount) between the Notes of each Series in its sole discretion and reserves the right to accept significantly more or significantly less than (or none of) the Notes of one or more Series as compared to the Notes of one or more of the other Series.
The Issuer is not under any obligation to accept for purchase any Notes tendered pursuant to the Offers. The acceptance for purchase of Notes tendered pursuant to the relevant Offer is at the sole discretion of the Issuer and tenders may be rejected by the Issuer for any reason. Whether the Issuer will accept for purchase Notes validly tendered in the relevant Offer is subject (unless such condition is waived by the Issuer in its sole discretion) to the New Financing Condition, which, without limitation, is the successful completion (in the sole determination of the Issuer) of the issue of the New Securities on or prior to the Settlement Date.
The Offers are being made on the terms and subject to the conditions contained in the Tender Offer Memorandum, and are subject to the offer restrictions set out below and as more fully described in the Tender Offer Memorandum.
Holders are advised to read carefully the Tender Offer Memorandum for full details of, and information on the procedures for participating in, the Offers.
Questions and requests for assistance in connection with the Offers may be directed to the Dealer Managers.
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
Questions and requests for assistance in connection with the delivery of Tender Instructions may be directed to the Tender and Information Agent.
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. This announcement and the Tender Offer Memorandum contain important information which should be read carefully before any decision is made with respect to the Offers. If any Noteholder is in any doubt as to the action it should take, it is recommended to seek its own financial advice, including in respect of any tax consequences, from its broker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to tender such Notes pursuant to the Offers. None of the Issuer, the Dealer Managers or the Tender and Information Agent makes any recommendation whether Noteholders should tender Notes pursuant to any Offer.
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. 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.
OFFER AND DISTRIBUTION RESTRICTIONS
This Announcement and the Tender Offer Memorandum does not constitute an invitation to participate in the Offers in any jurisdiction in which, or to any person to or from whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws. 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.
No action has been or will be taken in any jurisdiction in relation to the New Securities that would permit a public offering of securities and the minimum denomination of the New Securities will be U.S.$200,000.
France
This Announcement and the Tender Offer Memorandum and any other document or material relating to the Offers have only been and shall only be distributed in France to qualified investors as defined in Article 2(e) of Regulation (EU) 2017/1129. This Announcement and the Tender Offer Memorandum has not been and will not be submitted for clearance to nor approved by the Autorité des Marchés Financiers.
Italy
None of the Offers, this Announcement, the Tender Offer Memorandum or any other document or materials relating to the Offers have been submitted to the clearance procedures of the Commissione Nazionale per le Società e la Borsa (CONSOB) pursuant to Italian laws and regulations. Each Offer is being carried out in Italy as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of 24 February 1998, as amended (the Italian Financial Services Act) and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of 14 May 1999, as amended. Holders or beneficial owners of the Notes that are located in Italy can tender Notes for purchase in the Offers through authorised persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in the Republic of Italy in accordance with the Italian Financial Services Act, CONSOB Regulation No. 20307 of 15 February 2018, as amended from time to time, and Legislative Decree No. 385 of 1 September 1993, as amended) and in compliance with applicable laws and regulations or with requirements imposed by CONSOB or any other Italian authority.
Each intermediary must comply with the applicable laws and regulations concerning information duties vis-à-vis its clients in connection with the Notes and/or the Offers.
United Kingdom
The communication of this Announcement, the Tender Offer Memorandum and any other documents or materials relating to the Offers is not being made and such documents and/or materials have not been approved by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion is only being made to those persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Financial Promotion Order)) or persons who are within Article 43 of the Financial Promotion Order or any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order.
General
This Announcement and the Tender Offer Memorandum does not constitute an offer to buy or the solicitation of an offer to sell Notes (and tenders of Notes in the Offers will not be accepted from Noteholders) in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws require an Offer to be made by a licensed broker or dealer and any of the Dealer Managers or any of the Dealer Managers' respective affiliates is such a licensed broker or dealer in any such jurisdiction, such Offer shall be deemed to be made by such Dealer Manager or affiliate, as the case may be, on behalf of the Issuer in such jurisdiction.
Nothing in this Announcement, the Tender Offer Memorandum or the electronic transmission thereof constitutes an offer to sell or the solicitation of an offer to buy the New Securities in the United States or any other jurisdiction.
Each Noteholder participating in an Offer will also be deemed to give certain representations in respect of the other jurisdictions referred to above and generally as set out in "Procedures for Participating in the Offers". Any tender of Notes for purchase pursuant to an Offer from a Noteholder that is unable to make these representations will not be accepted. Each of the Issuer, the Dealer Managers and the Tender and Information Agent reserves the right, in its absolute discretion, to investigate, in relation to any tender of Notes for purchase pursuant to an Offer, whether any such representation given by a Noteholder is correct and, if such investigation is undertaken and as a result the Issuer determines (for any reason) that such representation is not correct, such tender shall not be accepted.
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.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
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(END) Dow Jones Newswires
October 19, 2022 04:43 ET (08:43 GMT)
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