top of page

Electricité de France - Tender Offer - Final Results

Electricité de France Announces the Final Results of its Tender Offer as of the Expiration Date


07 JULY 2023


Full announcement available via Luxse


...


"Expiration of the Offer


The Offer expired at 5:00 p.m., New York City time, on July 6, 2023. According to information provided by the Information Agent and Tender Agent, $2,910,000 of the aggregate principal amount of the Notes was validly tendered after the Early Participation Date and at or prior to the Expiration Date.


All Notes validly tendered after the Early Participation Date and at or prior to the Expiration Date have been accepted for purchase. No Notes tendered after the Expiration Date will be accepted pursuant to the Offer."


...

 

Electricité de France Announces the Early Participation Results of its Tender Offer


21 JUNE 2023


Full announcement available via Luxse


...


"Summary table of the early participation results of the Offer

(1) The Total Early Purchase Price payable for each Note will be a price per $1,000 in principal amount of such Note validly tendered at or prior to the Early Participation Date and accepted for purchase by the Company, and already includes the Early Participation Amount (which is expressed as an amount per $1,000 in principal amount of the Notes).


(2) The Purchase Price payable for each Note will be a price per $1,000 in principal amount of such Note validly tendered pursuant to the Offer after the Early Participation Date and at or prior to the Expiration Date and accepted for purchase by the Company.


Early Participation Results


According to information provided by the Information Agent and Tender Agent, $901,449,000 of the aggregate principal amount of the Notes was validly tendered at or prior to the Early Participation Date and not validly withdrawn.

All Notes validly tendered and not validly withdrawn at or prior to the Early Participation Date have been accepted for purchase.


The settlement date for the Notes validly tendered and not validly withdrawn at or prior to the Early Participation Date is expected to be June 22, 2023 (the “Early Settlement Date”).

For the avoidance of doubt, the Early Participation Date is not being extended and has expired as described in the Offer to Purchase. Holders of the Notes (the “Holders” and each, a “Holder”) wishing to participate in the Offer after the Early Participation Date will not receive the Early Participation Amount.


The Offer will continue until 5:00 p.m., New York City time on July 6, 2023, unless extended or earlier terminated (the “Expiration Date”). The Purchase Price for Notes validly tendered pursuant to the Offer after the Early Participation Date and at or prior to the Expiration Date and accepted for purchase by the Company will consist of the Total Early Purchase Price, minus the Early Participation Amount."


...

 

Electricité de France Launches Any and All Tender Offer for USD Perpetual Notes


06 JUNE 2023


Full announcement available via Luxse


"Electricité de France (the “Company”) announced today the launch of an offer to purchase for cash any and all of its $1,500,000,000 Reset Perpetual Subordinated Notes (the “Notes”). The Offer to purchase the Notes is referred to as the “Offer”.


The Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase dated June 6, 2023 (the “Offer to Purchase”). The Offer is not conditioned on any minimum amount of Notes being tendered. Subject to applicable law, the Company expressly reserves the right, in its sole discretion, to terminate the Offer if the conditions to the Offer are not satisfied. If the Offer is terminated at any time, the Notes tendered pursuant to the Offer will be promptly returned to the tendering Holders.


The Company announced on June 6, 2023 its intention to issue new USD-denominated reset perpetual subordinated notes (“New Notes”). The Company’s obligation to accept for purchase and pay for validly tendered Notes is conditioned on the closing of the Company’s proposed issuance of the New Notes (the “Financing Condition”)."


...



...


Purpose of the Offer


The purpose of the Offer and the planned offering of New Notes is to proactively manage and extend the Company’s hybrid debt portfolio.


The difference, if any, between the nominal amount of the Notes to be redeemed pursuant to the Offer and the nominal amount of the issuance of the New Notes will be offset, for the purpose of the equity content, by the bonds convertible into and/or exchangeable for new and/or existing shares of the Company (OCEANEs) converted on May 24, 2023."


...

Tags:

3 views0 comments

Comments


bottom of page