Ferrexpo PLC Exchange Offer Results Announcement (5844F)
23 Februar 2015 - 11:13AM
UK Regulatory
TIDMFXPO
RNS Number : 5844F
Ferrexpo PLC
23 February 2015
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY PERSON
LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO
DISTRIBUTE THIS ANNOUNCEMENT. NOT FOR GENERAL DISTRIBUTION IN THE
UNITED STATES.
23 February 2015
FERREXPO FINANCE PLC ANNOUNCES RESULTS OF ITS EXCHANGE OFFER FOR
ITS U.S.$500,000,000 7.875 PER CENT. GUARANTEED NOTES DUE 2016
FERREXPO FINANCE PLC (the "Issuer") today announces the results
of its invitation to holders of its outstanding U.S.$500,000,000
7.875 per cent. Guaranteed Notes due 2016 (the "Existing Notes") to
offer to exchange any and all of the Existing Notes for the New
Notes and the Cash Consideration (the "Exchange Offer").
As at the Exchange Deadline, the Minimum Participation Condition
has not been satisfied. However, pursuant to the Exchange Offer
Memorandum, the Issuer has decided to waive the Minimum
Participation Condition and will accept in full all Existing Notes
which were validly submitted and received by the Exchange Agent at
or prior to the Exchange Deadline pursuant to the Exchange Offer,
being U.S.$214,331,000 in aggregate principal amount of Existing
Notes.
The Issuer intends to issue U.S.$160,724,000 in aggregate
principal amount of New Notes on the Settlement Date, expected to
be on or about 24 February 2015, and pay an aggregate principal
amount of Cash Consideration of U.S.$53,582,750 on the Settlement
Date.
Following the Settlement Date, U.S.$285,669,000 in aggregate
principal amount of Existing Notes will remain outstanding.
The Exchange Offer was made on the terms and subject to the
conditions set out in the Exchange Offer Memorandum dated 19
January 2015 (the "Exchange Offer Memorandum") as amended by the
announcements made by the Issuer on 4 February 2015 and 6 February
2015.
Capitalised terms used in this announcement but not defined have
the meanings given to them in the Exchange Offer Memorandum.
For further information, please contact:
Dealer Managers
Credit Suisse Securities (Europe)
Limited Morgan Stanley & Co. International
plc
One Cabot Square 25 Cabot Square
Canary Wharf Canary Wharf
London E14 4QA London E14 4QA
United Kingdom United Kingdom
Tel: +44 207 883 8763 Tel: +44 207 677 5040
Fax: +44 207 892 1310 Email: liabilitymanagementeurope@morganstanley.com
Attention: Liability Management Attention: Liability Management
Desk
Exchange Agent
Lucid Issuer Services Limited
Leroy House
436 Essex Road
London N1 3QP
United Kingdom
Tel: +44 (0) 20 7704 0880
Email: ferrexpo@lucid-is.com
Attention: Paul Kamminga
OFFER AND DISTRIBUTION RESTRICTIONS
Neither this announcement, nor the Exchange Offer Memorandum
constitutes an invitation to participate in the Exchange Offer 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 Exchange Offer Memorandum in certain
jurisdictions may be restricted by law. Persons into whose
possession this announcement or the Exchange Offer Memorandum comes
are required by the Issuer, the Dealer Managers and the Exchange
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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