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K+S Aktiengesellschaft announces Tender Offer Amendment

K+S Aktiengesellschaft grants participants of its Tender Offer in respect of its EUR 600,000,000 3.250 per cent. Notes due 2024 (of which EUR 400,100,000 are currently outstanding) (ISIN: XS1854830889) revocation rights.


"25 November 2022. K+S Aktiengesellschaft (the "Company") announced today at 5:15 p.m. (CET) that S&P Global Ratings ("S&P") informed the Company today that the S&P Rating Committee has decided to improve the long-term credit rating of the Company from BB (stable outlook) to BB+ (positive outlook) (the "Announcement"). This is not yet the formal change of the rating, as the rating action will only be finalized upon publication by S&P. The Company considers that this Announcement may be materially prejudicial to the interests of Noteholders that have already submitted Tender Instructions before the Announcement (the "Relevant Noteholders"). These Relevant Noteholders may revoke their Tender Instruction at any time from the date and time of this announcement until 4:00 p.m. (Frankfurt time) on the second Business Day following such announcement (i.e. 29 November 2022) (subject to the earlier deadlines required by the Clearing Systems and any Intermediary through which Noteholders hold their Notes).


For the avoidance of doubt, any Relevant Noteholder who does not exercise any such right of revocation shall be deemed to have waived such right of revocation and its Tender Instruction will remain effective. If a Relevant Noteholder withdraws or revokes its Tender Instruction prior to the Expiration Deadline, such Noteholder will have the right to re-tender Notes at or prior to the Expiration Deadline in accordance with the procedures described in the Tender Offer Memorandum for tendering Notes."


 

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Full announcement available via LUXSE or Marketscreener.


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"18 November 2022. K+S Aktiengesellschaft (the "Company") announces today an invitation to eligible holders of its EUR 600,000,000 3.250 per cent. Notes due 2024 (of which EUR 400,100,000 are currently outstanding) (ISIN: XS1854830889) (the "Notes") to tender such Notes for purchase by the Company for cash up to the Maximum Acceptance Amount (as described below) and subject to the satisfaction (or waiver) of the conditions described in the Tender Offer Memorandum (the "Offer").


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Rationale for the Offer


The rationale for the Offer is to proactively use the Company's existing cash in order to reduce outstanding financial liabilities, to optimise the balance sheet structure and to reduce the Company's future cost of interest. Notes purchased by the Company pursuant to the Offer are expected to be cancelled and will not be re-issued or re-sold."















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