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Marks and Spencer plc - Tender Offer 2024 (XS) - Launch

Marks and Spencer plc announces Tender Offers for its outstanding: £400,000,000 4.750 per cent. Notes due 2025 (XS0863523030)(the 2025 Notes) and £300,000,000 3.750 per cent. Notes due 2026 (XS2258453369)(the 2026 Notes and, together with the 2025 Notes, the Notes and each a Series)


22 MAY 2024


Full announcement, including disclaimer and offer restrictions, available via Lonse


For further information please visit the London Stock Exchange (link above).


More details to follow.


 
 

Marks and Spencer plc announces results of tender offers


02 JUNE 2023


Full announcement available via Lonse


"Results of the Offers


2023 Notes


The 2023 Notes Offer expired at 4:00 p.m. (London time) on 1 June 2023 (the Expiration Deadline). As at the Expiration Deadline, £57,432,000 in aggregate principal amount of 2023 Notes was validly tendered for purchase pursuant to the 2023 Notes Offer.


The Company hereby announces that it has decided to accept for purchase in cash all 2023 Notes validly tendered pursuant to the 2023 Notes Offer in full. The final results of the 2023 Notes Offer are as follows:


2025 Notes and 2026 Notes

Pricing for the 2025 Notes Offer and the 2026 Notes Offer took place at or around midday (London time) today. The Company announces that it has set the 2025 Notes and 2026 Notes Final Acceptance Amount at £219,417,000. A summary of the pricing and the final results for the 2025 Notes Offer and the 2026 Notes Offer appears below:

General


The Settlement Date in respect of the Notes accepted for purchase pursuant to the Offers is expected to be 6 June 2023.


Following the Settlement Date:


(i) £128,108,000 in aggregate nominal amount of the 2023 Notes will remain outstanding;

(ii) £203,626,000 in aggregate nominal amount of the 2025 Notes will remain outstanding; and

(iii) £201,527,000 in aggregate nominal amount of the 2026 Notes will remain outstanding."


...

 

Marks and Spencer plc announces indicative results of tender offers


02 JUNE 2023


Full announcement available via Lonse


...


"Indicative Results of the Offers

The Company announces that the indicative results of the Offers are as follows:



"The Company also announces that the 2025 Notes and 2026 Notes Final Acceptance Amount is expected to be set at £219,417,000 in aggregate nominal amount of Notes, with the allocation of funds as between the 2025 Notes and the 2026 Notes to be determined in the sole discretion of the Company."


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Marks and Spencer plc announces Tender Offers for its outstanding:

£300,000,000 3.000 per cent. Notes due 2023 (XS1531151253) (the 2023 Notes)

and

£400,000,000 4.750 per cent. Notes due 2025 (XS0863523030) (the 2025 Notes)

and

£300,000,000 3.750 per cent. Notes due 2026 (XS2258453369) (the 2026 Notes and, together with the 2023 Notes and the 2025 Notes, the Notes and each a Series)


24 MAY 2023


Full announcement available via Lonse


"Marks and Spencer plc (the Company) announces today invitations to holders of its outstanding Notes to tender their Notes for purchase by the Company for cash (each, an Offer and together, the Offers)."


...



"Rationale for the Offers


The Offers are being made as part of the Company's liability management relating to debt maturities and cost of debt"


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