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Floene Energias S.A. - Tender Offer - Launch

FLOENE ENERGIAS, S.A. ANNOUNCES A TENDER OFFER FOR ITS OUTSTANDING EUR 600,000,000 1.375 PER CENT. NOTES DUE 19 SEPTEMBER 2023 (ISSUED BY THE OFFEROR UNDER ITS FORMER NAME, GALP GÁS NATURAL DISTRIBUIÇÃO, S.A.)


27 FEBRUARY 2023


Full announcement available via Lonse


(ISIN: PTGGDAOE0001)

Floene Energias, S.A. (the "Offeror") today announces that it is inviting holders of its outstanding EUR 600,000,000 1.375 per cent. Notes due 19 September 2023 (issued by the Offeror under its former name, Galp Gás Natural Distribuição, S.A.) (ISIN: PTGGDAOE0001) (the "Notes") to tender their Notes for purchase by the Offeror for cash in an aggregate nominal amount of up to EUR 300,000,000 (subject to the right of the Offeror to increase or decrease such amount in its sole and absolute discretion) (the "Maximum Acceptance Amount"), subject to applicable law and regulation and the offer and distribution restrictions and the satisfaction or waiver of the New Financing Condition (as defined below) and the other conditions described in the tender offer memorandum dated 27 February 2023 (the "Tender Offer Memorandum") (such invitation, the "Offer").



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Rationale for the Offer


The Offeror is making the Offer in order to provide liquidity to the Noteholders while optimising its funding and liquidity position. The Offer (together with the term facility entered into between the Offeror and certain lenders to finance any purchase of Notes by the Offeror pursuant to the Offer (the "Term Loan")) allows the Offeror to extend the maturity profile of its outstanding debt.

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