Tesco Corporate Treasury Services Tender Offer - Final Results (2315V)

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RNS Number : 2315V

Tesco Corporate Treasury Services

02 December 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 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 IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

Tesco Corporate Treasury Services PLC announces results of the Tender Offer for its EUR500,000,000 2.125 per cent. Notes due 2020 and guaranteed by Tesco PLC

2 December 2019

On 25 November 2019, Tesco Corporate Treasury Services PLC (the Company) announced an invitation to holders of its outstanding EUR500,000,000 2.125 per cent. Notes due 2020 and guaranteed by Tesco PLC (Tesco) (ISIN: XS0992638220) (the Notes) to tender any and all of their Notes for purchase by the Company for cash (such invitation, the Offer).

The Offer expired at 4.00 p.m. (London time) on 29 November 2019 (the Expiration Deadline) and the Company now announces the results of the Offer.

The Offer was made on the terms and subject to the conditions contained in the tender offer memorandum dated 25 November 2019 (the Tender Offer Memorandum) prepared by the Company. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

The Company announces that it has decided to accept all valid tenders of Notes pursuant to the Offer, being EUR204,327,000 in aggregate nominal amount of the Notes, and confirms that the New Financing Condition has now been satisfied.

The Company confirms that the Purchase Price in respect of Notes accepted for purchase pursuant to the Offer is 101.638 per cent. and that it will also pay Accrued Interest in respect of such Notes.

The Settlement Date in respect of Notes accepted for purchase pursuant to the Offer is expected to be 4 December 2019. Following settlement of the Offer, EUR295,673,000 in aggregate nominal amount of the Notes will remain outstanding.

Banco Santander, S.A. - London Branch (Telephone: [phone] / Attention: Liability Management / Email: [e-mail] / [e-mail]); Barclays Bank PLC (Telephone: [phone] / Attention: Liability Management Group / Email: [e-mail]); BNP Paribas (Telephone: [phone] / Attention: Liability Management Group / Email: [e-mail]); and SMBC Nikko Capital Markets Limited (Telephone: [phone] / Attention: Liability Management / Email: [e-mail]) are acting as Dealer Managers in respect of the Offer.

Lucid Issuer Services Limited (Telephone: [phone]; Attention: Arlind Bytyqi; Email: [e-mail]) is acting as Information and Tender Agent for the Offer.

This announcement is released by Tesco Corporate Treasury Services 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 results of the Offer described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Robert Welch, Group Company Secretary at Tesco.

LEI Number: 21380018AJDKNF3A6712

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire 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 and/or the Tender Offer Memorandum come(s) are required by each of the Company, Tesco, the Dealer Managers and the Information and 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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December 02, 2019 02:00 ET (07:00 GMT)