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DS Smith Plc - Tender Offer - News

DS Smith Plc - Inaugural Green Bond issuance

27 JULY 2023


Full announcement including disclaimers and offer restrictions available via Luxse


"DS Smith Plc, the leading supplier of sustainable packaging, has successfully launched and priced EUR 850,000,000 Notes due 27 July 2027 with a coupon of 4.375% and EUR 650,000,000 Notes due 27 July 2030 with a coupon of 4.5%, (together "the Notes"), pursuant to its Euro Medium Term Note Programme.


An amount equal to the net proceeds of the issuance of the Notes will be used to finance or refinance eligible activities in accordance with DS Smith's green finance framework. The net proceeds of the issuance of the Notes may be used, in whole or in part, to refinance existing indebtedness, including the 1.375% notes due July 2024 (the "2024 Notes"), and the issuance will significantly extend the tenure of the DS Smith Group's borrowings.


DS Smith has also decided to accept for purchase €297,576,000 in aggregate principal amount of the 2024 Notes at a purchase price equal to 97.25% of their nominal amount pursuant to a tender offer (the "Offer") announced to holders of the 2024 Notes on 18 July 2023. The Offer is expected to settle on 31 July 2023 subject to and in accordance with terms and conditions of the tender offer memorandum relating to the Offer.


The Notes have been, and will be, offered and sold only to non-U.S. persons outside the United States in accordance with Regulation S under the U.S. Securities Act of 1933, as amended."


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DS Smith Plc announces results of its tender offer in respect of its €750,000,000 1.375 per cent. Notes due 2024 (ISIN: XS1652512457)

27 JULY 2023


Full announcement including disclaimers and offer restrictions available via Luxse


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"The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 26 July 2023. As at the Expiration Deadline, €297,576,000 in aggregate nominal amount of the Notes were validly tendered for purchase pursuant to the Offer.


The Offeror announces that it has decided to accept for purchase all Notes validly tendered pursuant to the Offer, at a cash purchase price equal to 97.25 per cent. of the nominal amount of the relevant Notes, together with an Accrued Interest Payment. All Notes accepted for purchase pursuant to the Offer will be cancelled.


A summary of the final results of the Offer appears below:"



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DS Smith Plc announces tender offer in respect of its €750,000,000 1.375 per cent. Notes due 2024 (ISIN: XS1652512457)

18 JULY 2023


Full announcement including disclaimers and offer restrictions available via Luxse


18 July 2023. DS Smith Plc (the Offeror) announces today an invitation to holders of its outstanding €750,000,000 1.375 per cent. Notes due 2024 (ISIN: XS1652512457) (the Notes) to tender any and all of such Notes for purchase by the Offeror for cash (such invitation, the Offer), subject to the satisfaction (or waiver) of the New Issue Condition."

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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 is being made in conjunction with an issue of New Notes to manage the Offeror’s debt maturity

profile in an efficient manner. The Offer will also provide liquidity to Holders and an opportunity to redeploy

funding into the Offeror's proposed New Notes.


The Offeror intends to cancel all Notes it purchases pursuant to the Offer."


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