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United Utilities Water Finance PLC - Tender Offer 2024 (XS) - Final Results

UNITED UTILITIES WATER FINANCE PLC ANNOUNCES FINAL RESULTS OF TENDER OFFER IN RESPECT OF ITS £450,000,000 2.00 PER CENT. FIXED RATE NOTES DUE 202 - XS1769818227

22 MARCH 2024


Full announcement including disclaimers and offer restrictions available via Lonse


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"The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 21 March 2024.


Final Acceptance Amount


The Company confirms that the Final Acceptance Amount is £110,052,000.

Accordingly, the Company will accept for purchase all Bonds validly tendered pursuant to the Offer in full, with no pro rata scaling.


Pricing in respect of the Offer took place at or around 12.00 p.m. (London time) today (the Pricing Time). The Company determined that the Purchase Price it will pay for the Bonds validly tendered and accepted for purchase will be 97.332 per cent. of the nominal amount of the Bonds based on a Settlement Date of 26 March 2024.


A summary of the final results of, and pricing for, the Offer appears below:



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UNITED UTILITIES WATER FINANCE PLC ANNOUNCESTENDER OFFER IN RESPECT OF ITS £450,000,000 2.00 PER CENT. FIXED RATE NOTES DUE 2025 - XS1769818227

15 MARCH 2024


Full announcement including disclaimers and offer restrictions available via Lonse


United Utilities Water Finance PLC (the Company) announces today its invitation to holders of its £450,000,000 2.00 per cent. Fixed Rate Notes due 2025 (ISIN: XS1769818227) ((£300,000,000 of which were issued on 14 February 2018, £50,000,000 of which were issued on 19 September 2018 and £100,000,000 of which were issued on 28 January 2019)) (the Bonds) to tender their Bonds for purchase by the Company for cash (the Offer). The Bonds are guaranteed by United Utilities Water Limited (the Parent).

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"Summary


A summary of certain terms of the Offer appears below:




Rationale for the Offer


The Offer is designed to proactively manage the Company's debt maturity profile and to provide liquidity to current Bondholders. Any Bonds purchased by the Company pursuant to the Offer will be cancelled and will not be reissued or resold."


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