Tender Offer Results Announcement

RNS Number : 9625D

International Personal Finance Plc

03 April 2014

 



3 April 2014

International Personal Finance plc announces the results of the tender offer
for its €225,000,000 11.50 per cent. Guaranteed Notes due 2015

On 24 March 2014, International Personal Finance plc (the "Company") announced its invitation to holders of its €225,000,000 11.50 per cent. Guaranteed Notes due 2015 (ISIN: XS0531331345) (the "Existing Notes") to tender any and all of such Existing Notes for purchase by the Company for cash (the "Invitation"). The Invitation was made subject to satisfaction of the New Issue Condition and on the terms and subject to the conditions contained in the tender offer memorandum dated 24 March 2014 (the "Tender Offer Memorandum") prepared by the Company. The Invitation expired at 4.00 p.m. (London time) on 2 April 2014 (the "Expiration Deadline").

Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

Results of Tender Offer

As at the Expiration Deadline, €168,307,000 in principal amount of the Existing Notes had been validly tendered for purchase pursuant to the Invitation.

The Company will, subject to the satisfaction of the New Issue Condition: (i) accept for repurchase all Existing Notes validly tendered for purchase pursuant to the Invitation; and (ii) pay €1,135.00 per €1,000 principal amount of the Existing Notes for such Existing Notes validly tendered and accepted by it for repurchase pursuant to the Invitation (the "Repurchase Price"), as summarised below:

Description of the Existing Notes	Common Code/ ISIN	Outstanding principal amount	Amount to be accepted for repurchase	Repurchase Price
€225,000,000 11.50 per cent. Guaranteed Notes due 2015	053133134/ XS0531331345	€225,000,000	€168,307,000	€1,135.00 per €1,000 principal amount

The Company will also pay Accrued Interest on those Existing Notes accepted for repurchase pursuant to the Invitation.

The Settlement Date in respect of those Existing Notes accepted for repurchase is expected to be 7 April 2014. Following settlement of the Invitation for the Existing Notes, €56,693,000 in principal amount of the Existing Notes will remain outstanding.

Citigroup Global Markets Limited and HSBC Bank plc are acting as Dealer Managers for the Invitation and Citibank, N.A., London Branch is acting as Tender Agent.

Questions and requests for assistance in connection with the Invitation may be directed to the Dealer Managers.

The Dealer Managers
Citigroup Global Markets Limited Citigroup Centre Canada Square London E14 5LB Telephone: [phone] Attention: Liability Management Group Email: [e-mail]	HSBC Bank plc 8 Canada Square London E14 5HQ Telephone: [phone] Attention: Liability Management Group Email: [e-mail]

Questions and requests for assistance in connection with the delivery of Tender Instructions may be directed to the Tender Agent.

The Tender Agent

Citibank, N.A., London Branch Citigroup Centre Canada Square Canary Wharf London E14 5LB Telephone: [phone] Attention: Exchange Team Email: [e-mail]

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which should be read carefully. If any Noteholder is in any doubt as to the contents of this announcement or the Tender Offer Memorandum or the action it should take, it is recommended to seek its own financial advice and legal advice, including as to any tax consequences, from its stockbroker, bank manager, legal counsel, accountant or other independent financial adviser.

OFFER AND DISTRIBUTION RESTRICTIONS

The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Company, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions. Please also see the Tender Offer Memorandum for a fuller description of such restrictions.

Neither this announcement nor the Tender Offer Memorandum constitute an offer to buy or a solicitation of an offer to sell Existing Notes.

 

END

 

 

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