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Centrica plc - Tender Offer 2024 (2) (XS) - Results and Pricing

Centrica plc (the "Company") announces the results and pricing of its Tender Offer for its £770,000,000 7.00 per cent. Notes due 2033 - XS0388006123

12 June 2024


Full announcement, including disclaimers and restrictions, available via Lonse

Scroll below for information on previous offers related to this Issuer


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"The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 11 June 2024. As at the Expiration Deadline, £611,280,000 in aggregate nominal amount of the Notes had been validly tendered for purchase pursuant to the Offer.

Final Results and Pricing


The Company hereby announces that it has decided to set the Final Acceptance Amount at £370,000,000 and that, on the basis of such Final Acceptance Amount, it will accept for purchase the Notes validly tendered pursuant to the Offer subject to pro rata scaling at a Scaling Factor of 60.4765 per cent., as further described in the Tender Offer Memorandum.


Pricing of the Offer took place at or around 9:30 a.m. (London time) today, 12 June 2024. A summary of the final results and pricing of the Offer appears below:"



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Centrica plc announces Tender Offer for its £770,000,000 7.00 per cent. Notes due 2033 - XS0388006123

04 June 2024


Full announcement, including disclaimers and restrictions, available via Lonse

Scroll below for information on previous offers related to this Issuer


4 June 2024. Centrica plc (the Offeror) announces today an invitation to holders of its outstanding £770,000,000 7.00 per cent. Notes due 2033 (ISIN: XS0388006123) (the Notes) to tender their Notes for purchase by the Offeror for cash (such invitation, the Offer).

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Summary of the Offer



Rationale for the Offer


The rationale for the Offer is to proactively manage the Offeror's balance sheet and maturity profile."


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Centrica plc(the "Company") announces the results of its Tender Offer for its Subordinated Resettable Fixed Rate Notes due 2075 - XS1216019585

20 May 2024


Full announcement, including disclaimers and restrictions, available via Lonse


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"The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 17 May 2024.


As at the Expiration Deadline, £414,693,000 in aggregate principal amount of the Notes was validly tendered for purchase in the Offer.


The Company hereby announces that (subject to the satisfaction, or waiver, of the New Financing Condition on or prior to the Settlement Date) it has decided to accept for purchase £414,693,000 in aggregate principal amount of the Notes validly tendered pursuant to the Offer.


Accrued Interest will also be payable in respect of any Notes accepted for purchase pursuant to the Offer.


Following the Settlement Date, the Company intends to cancel the Notes purchased pursuant to the Offer and, accordingly, the Company will have repurchased and cancelled 92.15 per cent. of the nominal amount of the Notes. As a consequence, the 80 per cent. threshold as described in the Tender Offer Memorandum will have been met and it is the current intention of the Company to exercise its option under the terms and conditions of the Notes to redeem, following settlement of the Offer, all of the Notes that were not validly tendered and accepted for purchase pursuant to the Offer, at their principal amount together with any accrued and unpaid interest (including any outstanding Arrears of Interest (as defined in the terms and conditions of the Notes)) up to (but excluding) the redemption date. However, the Company is not under any obligation to make any such redemption and the Company's intention to do so may change at any time and for various factors existing at that time."


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Centrica plc announces Tender Offer for its Subordinated Resettable Fixed Rate Notes due 2075 - XS1216019585

10 May 2024


Full announcement, including disclaimers and restrictions, available via Lonse


10 May 2024. Centrica plc (the Offeror) announces today an invitation to holders of its outstanding £450,000,000 Subordinated Resettable Fixed Rate Notes due 2075 (ISIN: XS1216019585) (the Notes) to tender their Notes for purchase by the Offeror for cash (such invitation, the Offer)."

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"Summary of the Offer



Rationale for the Offer


The purpose of the Offer and the planned issuance of New Notes is, amongst other things, to proactively manage the Offeror's hybrid portfolio. The Offer also provides eligible Noteholders with the opportunity to sell their Notes ahead of their upcoming first reset date and to apply for priority in the allocation of the New Notes."


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