Indicative Results of Cash Tender Offer
15 Juli 2010 - 11:20AM
UK Regulatory
TIDMBB90
RNS Number : 3975P
Lewis(John) PLC
15 July 2010
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
AMERICA, ITS TERRITORIES AND POSSESSIONS OR IN OR INTO OR TO ANY PERSON LOCATED
OR RESIDENT IN THE REPUBLIC OF ITALY OR IN ANY OTHER JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, DISTRIBUTE OR PUBLISH THIS DOCUMENT.
15 July 2010
JOHN LEWIS PLC
INDICATIVE RESULTS OF CASH TENDER OFFER
John Lewis plc (the Offeror) announces the indicative results of its invitation
to the holders of its outstanding GBP300,000,000 6.375 per cent. Bonds due 2012
(ISIN: XS0127953353) (the Bonds) to tender their Bonds for purchase by the
Offeror for cash (the Offer).
The Offer was made on the terms and subject to the conditions contained in the
tender offer memorandum dated 5 July 2010 (the Tender Offer Memorandum) prepared
by the Offeror in connection with the Offer. Capitalised terms used but not
otherwise defined in this announcement shall have the meaning given to them in
the Tender Offer Memorandum.
As at the Expiration Deadline of 5.00 p.m. (London time) on Wednesday, 14 July
2010, the Offeror had received valid tenders for approximately GBP218,292,000 in
aggregate nominal amount of Bonds, of which GBP157,996,000 in aggregate nominal
amount of Bonds were tendered pursuant to valid Tender and New Issue Allocation
Instructions. The Offeror has decided to increase the Maximum Acceptance Amount
to GBP157,996,000 and accordingly it will accept (subject to satisfaction of the
New Financing Condition described below) all Bonds tendered pursuant to valid
Tender and New Issue Allocation Instructions. There will not be any pro rata
scaling of the Bonds accepted pursuant to valid Tender and New Issue Allocation
Instructions. No Bonds tendered pursuant to Tender Only Instructions will be
accepted by the Offeror.
Pricing will take place at or around 2.00 p.m. (London time) on Thursday, 15
July 2010. As soon as reasonably practicable after the Pricing Time, the
Offeror will announce (i) the Benchmark Security Rate, Purchase Yield and
Purchase Price, and (ii) the final aggregate nominal amount of Bonds that will
remain outstanding after the Tender Offer Settlement Date (subject to
satisfaction of the New Financing Condition).
The Tender Offer Settlement Date and the New Issue Settlement Date are both
expected to be on Wednesday, 21 July 2010. Purchases of Bonds under the Offer
are conditional upon satisfaction of the New Financing Condition, being the
successful completion (in the determination of the Offeror) of the issue of the
New Bonds, as further described in the Tender Offer Memorandum.
Barclays Bank PLC and HSBC Bank plc are acting as Dealer Managers for this
Offer. Lucid Issuer Services Limited is acting as Tender Agent. For detailed
terms of the Offer please refer to the Tender Offer Memorandum.
THE DEALER MANAGERS
+-----------------------------------+-----------------------------------+
| Barclays Bank PLC | HSBC Bank plc |
| 5 The North Colonnade | 8 Canada Square |
| Canary Wharf | London E14 5HQ |
| London E14 4BB | United Kingdom |
| United Kingdom | |
+-----------------------------------+-----------------------------------+
| For information by telephone: | For information by telephone: |
| +44 (0) 20 7773 8990 | +44 (0) 20 7991 1444 |
| Attention: Liability Management | Attention: Liability Management |
| Group | Group |
| Email: eu.lm@barcap.com | Email: |
| | liability.management@hsbcib.com |
| | |
+-----------------------------------+-----------------------------------+
| THE TENDER AGENT |
+-----------------------------------------------------------------------+
| Lucid Issuer Services Limited |
| Leroy House |
| 436 Essex Road |
| London N1 3QP |
| United Kingdom |
+-----------------------------------------------------------------------+
| For information by telephone: |
| +44 (0) 20 7704 0880 |
| Attention: Lee Pellicci and David Shilson |
| Email: johnlewis@lucid-is.com |
+-----------------------------------+-----------------------------------+
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 comes are
required by each of the Offeror, the Dealer Managers and the Tender Agent to
inform themselves about, and to observe, any such restrictions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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