KPN announces results of its Tender Offer
19 Juni 2024 - 8:00AM
KPN announces results of its Tender Offer
NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR ANY
PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA OR IN
ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS
ANNOUNCEMENT
Introduction
On 11 June 2024, Koninklijke KPN N.V. (“KPN”)
announced an Any and All Debt Tender Offer to holders of its
outstanding € 500m Perpetual Fixed Rate Resettable Capital
Securities (ISIN: XS2069101868) (the "Securities") to tender their
Securities for purchase by KPN for cash (the "Offer").
The purpose of this transaction is to
proactively manage KPN’s layer of hybrid capital and optimize its
ongoing interest costs.
Final resultsToday, KPN
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 11 June 2024 (the "Tender Offer Memorandum")
and expired at 17:00 hours (Amsterdam Time) on 18 June 2024.
Capitalized terms used but not defined in this announcement have
the meanings given to them in the Tender Offer Memorandum.
KPN was offered and has accepted a principal
amount of € 280.6m for purchase.
SettlementSettlement of the
Offer and payment of the tender consideration in respect of
Securities accepted for purchase is expected to take place on 20
June 2024. The total tender consideration is approximately
€ 279.0m including an Accrued Interest Payment of € 2.0m. KPN
finances the Offer from available liquidity resources. Securities
that have not been tendered for purchase pursuant to the Offer will
remain outstanding.
ING and Goldman Sachs acted as Dealer Managers
for the tender offer; and Kroll Issuer Services Limited is acting
as Tender Agent.
DISCLAIMER This announcement
must be read in conjunction with the Tender Offer Memorandum. If
any Securityholder is in any doubt as to the content of this
announcement or the Tender Offer Memorandum or the action it should
take, it is recommended to seek its own financial advice, including
in respect of any tax consequences, from its stockbroker, bank
manager, solicitor, accountant or other independent financial, tax
or legal adviser. 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 KPN, the
Dealer Managers and the Tender Agent to inform themselves about,
and to observe, any such restrictions.
Formal disclosures:
Royal KPN N.V. Head of IR: Matthijs van Leijenhorst Inside
information: Yes Topic: KPN announces results of its Tender
Offer19/06/2024; 8:00hKPN-N
- KPN announces results of its Tender Offer
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