British Telecommunications Plc - Tender Offer 2024 (XS) - Final Results and Pricing

BRITISH TELECOMMUNICATIONS PUBLIC LIMITED COMPANY ANNOUNCES FINAL RESULTS AND PRICING OF OFFERS - XS2051494222 - XS1377679961

20 JUNE 2024

Full announcement, including restrictions and disclaimers available via, Lonse

Scroll below for information on previous Offers related to this Issuer

...

"The Expiration Time for the Offers was 4.00 p.m. (London time) on 19 June 2024. The pricing took place at or around 11.00 a.m. (London time) today.

The Offeror hereby announces that it will accept for purchase in accordance with the terms and subject to the conditions (including the New Financing Condition) set out in the Tender Offer Memorandum and at the relevant Purchase Price, all Notes validly Offered for Sale pursuant to the Offers, without pro-ration, in an aggregate nominal amount ofEUR 454,898,000. The Offeror further announces that the aggregate nominal amount of each Series validly accepted for purchase (each a "Series Acceptance Amount") will be as set out in the table below.

Notes purchased by the Offeror pursuant to the Offers will be cancelled by the Offeror and will not be re-issued or re-sold. Notes which have not been validly submitted or validly submitted but not accepted for purchase pursuant to the Offers will remain outstanding."

...

---

BRITISH TELECOMMUNICATIONS PUBLIC LIMITED COMPANY ANNOUNCES MAXIMUM ACCEPTANCE AMOUNT - XS2051494222 - XS1377679961

14 JUNE 2024

Full announcement, including restrictions and disclaimers available via, Lonse

Scroll below for information on previous Offers related to this Issuer

"British Telecommunications public limited company (the "Offeror") announces today, with reference to the invitations made to the holders of its outstanding EUR 650,000,000 0.500 per cent. Notes due 12 September 2025 (ISIN: XS2051494222) (the "2025 Notes") and EUR 1,300,000,000 1.750 per cent. Notes due 10 March 2026 (ISIN: XS1377679961) (the "2026 Notes" and together with the 2025 Notes, the "Notes" and each a "Series") as described in the tender offer memorandum dated 13 June 2024 (the "Tender Offer Memorandum") (each such invitation an "Offer" and together the "Offers") that, following pricing of the New Notes to be issued by the Offeror, the Maximum Acceptance Amount in respect of the Offers is EUR 750,000,000 in aggregate nominal amount of Notes."

...

---

BRITISH TELECOMMUNICATIONS PUBLIC LIMITED COMPANY ANNOUNCES TENDER OFFERS - XS2051494222 - XS1377679961

13 JUNE 2024

Full announcement, including restrictions and disclaimers available via, Lonse

Scroll below for information on previous Offers related to this Issuer

British Telecommunications public limited company (the "Offeror") announces that it is inviting holders of its outstanding EUR 650,000,000 0.500 per cent. Notes due 12 September 2025 (ISIN: XS2051494222) (the "2025 Notes") and EUR 1,300,000,000 1.750 per cent. Notes due 10 March 2026 (ISIN: XS1377679961) (the "2026 Notes" and together with the 2025 Notes, the "Notes" and each a "Series") to tender their Notes for purchase by the Offeror for cash in an aggregate nominal amount of up to the Maximum Acceptance Amount (as defined below), subject to pro rata scaling, if applicable, and subject to applicable law and regulation and the offer and distribution restrictions and the satisfaction or waiver of the New Financing Condition (as defined below) and the other conditions described in the tender offer memorandum dated 13 June 2024 (the "Tender Offer Memorandum") (each such invitation an "Offer" and together the "Offers").

...

"Rationale for the Offers

The rationale for the Offers is to optimise the liquidity and debt maturity profile of the Offeror and BT Group plc. Notes purchased by the Offeror pursuant to the Offers will be cancelled and will not be re-issued or re-sold. Notes which have not been validly submitted and accepted for purchase pursuant to the Offers will remain outstanding."

...

---

---

BRITISH TELECOMMUNICATIONS PUBLIC LIMITED COMPANY ANNOUNCES FINAL RESULTS AND PRICING OF OFFERS

13 FEBRUARY 2023

Final results and pricing announcement available via LONSE.

(Indicative results available via LONSE).

"The Offeror hereby announces that it will accept for purchase in accordance with the terms and subject to the conditions (including the New Financing Condition) set out in the Tender Offer Memorandum and at the relevant Purchase Price, all Notes validly Offered for Sale pursuant to the Offers, without pro-ration, in an aggregate nominal amount of EUR574,235,000. The Offeror further announces that the aggregate nominal amount of each Series validly accepted for purchase (each a "Series Acceptance Amount") will be as set out in the table below."

"Notes purchased by the Offeror pursuant to the Offers will be cancelled by the Offeror and will not be re-issued or re-sold. Notes which have not been validly submitted or validly submitted but not accepted for purchase pursuant to the Offers will remain outstanding.

Payment of the Tender Consideration in respect of the Notes accepted for purchase by the Offeror will occur on the Settlement Date for the Offers which is expected to be 15 February 2023."

---

BRITISH TELECOMMUNICATIONS PUBLIC LIMITED COMPANY ANNOUNCES MAXIMUM ACCEPTANCE AMOUNT

07 FEBRUARY 2023

Full announcement available via LONSE.

British Telecommunications public limited company (the "Offeror") announces today, with reference to the invitations made to the holders of its outstanding EUR500,000,000 0.875 per cent. Notes due 26 September 2023 (ISIN: XS1886402814) (the "2023 Notes"), EUR575,000,000 1.000 per cent. Notes due 23 June 2024 (ISIN: XS1637334803) (the "June 2024 Notes") and EUR1,100,000,000 1.000 per cent. Notes due 21 November 2024 (ISIN: XS1720922175) (the "November 2024 Notes" and together with the 2023 Notes and the June 2024 Notes, the "Notes" and each a "Series") as described in the tender offer memorandum dated 6 February 2023 (the "Tender Offer Memorandum") (each such invitation an "Offer" and together the "Offers") that, following pricing of the New Notes to be issued by the Offeror, the Maximum Acceptance Amount in respect of the Offers is EUR1,000,000,000 in aggregate nominal amount of Notes.

...

"The Offeror reserves the right, in its sole and absolute discretion and for any reason, to increase or decrease the Maximum Acceptance Amount. The Offeror will announce the final Series Acceptance Amounts as soon as reasonably practicable after the Pricing Time on 13 February 2023.

The Offers commenced on 6 February 2023 and will expire at 4.00 p.m. (London time) on 10 February 2023. Settlement is expected to take place on 15 February 2023."

---

BRITISH TELECOMMUNICATIONS PUBLIC LIMITED COMPANY ANNOUNCES TENDER OFFERS

06 FEBRUARY 2023

Full announcement available via LONSE.

British Telecommunications public limited company (the "Offeror") announces that it is inviting holders of its outstanding EUR500,000,000 0.875 per cent. Notes due 26 September 2023 (ISIN: XS1886402814) (the "2023 Notes"), EUR575,000,000 1.000 per cent. Notes due 23 June 2024 (ISIN: XS1637334803) (the "June 2024 Notes") and EUR1,100,000,000 1.000 per cent. Notes due 21 November 2024 (ISIN: XS1720922175) (the "November 2024 Notes" and together with the 2023 Notes and the June 2024 Notes, the "Notes" and each a "Series") to tender their Notes for purchase by the Offeror for cash in an aggregate nominal amount of up to the Maximum Acceptance Amount (as defined below), subject to pro rata scaling, if applicable, and subject to applicable law and regulation and the offer and distribution restrictions and the satisfaction or waiver of the New Financing Condition (as defined below) and the other conditions described in the tender offer memorandum dated 6 February 2023 (the "Tender Offer Memorandum") (each such invitation an "Offer" and together the "Offers")."

...

"The Offers are made on the terms and subject to the conditions (including the New Financing Condition) contained in the Tender Offer Memorandum and should be read in conjunction with the Tender Offer Memorandum. Capitalised terms used but not otherwise defined in this announcement shall have the meaning given to them in the Tender Offer Memorandum."

...

"Rationale for the Offers

The rationale for the Offers is to optimise the liquidity and debt maturity profile of the Offeror and BT Group plc. Notes purchased by the Offeror pursuant to the Offers will be cancelled and will not be re-issued or re-sold. Notes which have not been validly submitted and accepted for purchase pursuant to the Offers will remain outstanding."