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Cadent Finance plc - Tender Offer - Indicative Results

Cadent Finance plc announces indicative results of its Tender Offer

for its €750,000,000 Fixed Rate Instruments due 2024

05 JULY 2023


Full announcement including disclaimers and offer restrictions available via Lonse (Source: Cadent Finance PLC)


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"The Offeror announced on 29 June 2023 that the Maximum Acceptance Amount is €500,000,000.


The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 4 July 2023. As at the Expiration Deadline, €302,844,000 in aggregate nominal amount of Instruments were validly tendered for purchase pursuant to the Offer.

In the event the Offeror decides to accept valid tenders of Instruments pursuant to the Offer, and the New Issue Condition is satisfied or waived on or prior to the Settlement Date, it expects to set the Final Acceptance Amount at approximately €302,844,000 in aggregate nominal amount of Instruments. On the basis of such expected Final Acceptance Amount, the Offeror expects to accept for purchase Instruments validly tendered in the Offer in full, without pro rata scaling.


Holders should note that this is a non-binding indication of the level at which the Offeror expects to set the Final Acceptance Amount."


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Cadent Finance plc announces that the Maximum Acceptance Amount is €500,000,000

in respect of its Tender Offer for its €750,000,000 Fixed Rate Instruments due 2024

29 JUNE 2023


Full announcement including disclaimers and offer restrictions available via Lonse (Source: Cadent Finance PLC)


"29 June 2023. Cadent Finance plc (formerly known as National Grid Gas Finance plc) (the Offeror) announces today that the Maximum Acceptant Amount is €500,000,000 in respect of its invitation to holders of its €750,000,000 Fixed Rate Instruments due 2024 (ISIN: XS1493320656) (the Instruments) guaranteed by Cadent Gas Limited (formerly known as National Grid Gas Distribution Limited) (the Guarantor) to tender their Instruments for purchase by the Offeror for cash (the Offer)."


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Cadent Finance plc Announces Cash Tender Offer for its €750,000,000 Fixed Rate Instruments due 2024

26 JUNE 2023


Full announcement including disclaimers and offer restrictions available via Lonse (Source: Cadent Finance PLC)


"26 June 2023.Cadent Finance plc (formerly known as National Grid Gas Finance plc) (the Offeror) announces today an invitation to holders of its outstanding €750,000,000 Fixed Rate Instruments due 2024 (ISIN:XS1493320656) (the Instruments) guaranteed by Cadent Gas Limited (formerly known as National Grid Gas Distribution Limited) (the Guarantor) to tender such Instruments for purchase by the Offeror for cash (such invitation, the Offer)."


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"Summary of the Offer


A summary of certain of the terms of the Offer appears below:"



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"Rationale for the Offer


The Offer, in conjunction with the issuance of the New Instruments (as defined below), is being made to proactively manage the Offeror's debt profile.


Instruments purchased by the Offeror pursuant to the Offer are expected to be cancelled and will not be re-issued or re-sold. "


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