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ENN Energy Holdings Limited - Tender Offer (MDA) - Early Results

OFFER TO PURCHASE FOR CASH OF UP TO US$150,000,000 IN PRINCIPAL AMOUNT OF 2.625% SENIOR NOTES DUE 2030 (THE “NOTES”) (i) DETERMINATION OF THE TOTAL CONSIDERATION (ii) RESULTS OF THE TENDER OFFER AS OF THE EARLY PARTICIPATION DATE AND INCREASE IN THE TENDER CAP (iii) EXPECTED EARLY PAYMENT DATE - US26876FAC68 - USG3066LAF88


26 NOVEMBER 2023


Full announcement including disclaimers and offer restrictions available via Hong Kong Exchanges and Clearing Ltd 


"The Company has made an offer to purchase the Notes for cash of up to the Tender Cap under a modified Dutch auction procedure. The Tender Offer commenced on 8 November 2023 and will expire at 5:00 p.m., New York City time, on 8 December 2023, unless extended or earlier terminated by the Company. The Early Participation Date has now expired. Holders who tendered Notes on or prior to the Early Participation Date and accepted by the Company will receive the Total Consideration of US$831.82 per US$1,000 principal amount of Notes. As of the Early Participation Date, US$211,538,000 in principal amount of the Notes have been validly tendered and not withdrawn. The Company hereby announces that it has increased the Tender Cap from US$150,000,000 to US$200,000,000 in principal amount of Notes. The Company hereby announces acceptance for purchase US$200,000,000 in principal amount of the Notes that were validly tendered by the Early Participation Date for the Total Consideration of 2 US$831.82 per US$1,000 principal amount of Notes.


The early settlement of such Notes is expected to take place on or about 28 November 2023."


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"The following table summarises the material pricing terms of the Tender Offer for each US$1,000 aggregate principal amount of Notes:"



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OFFER TO PURCHASE FOR CASH OF UP TO USD 150,000,000 IN PRINCIPAL AMOUNT OF 2.625% SENIOR NOTES DUE 2030 - US26876FAC68 - USG3066LAF88

08 NOVEMBER 2023


Full announcement including disclaimers and offer restrictions available via Hong Kong Exchanges and Clearing Ltd


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"The Tender Offer is part of the balance sheet management activities of the Group, and is being made to reduce the Group’s outstanding non-functional currency denominated debts, so as to reduce foreign exchange risk and to optimise the Group’s capital structure. The Company believes that the Tender Offer provides an opportunity to the Holders to gain liquidity with respect to the Notes (by tendering their Notes for purchase by the Company) that might not otherwise be available to the Holders".


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