Results of Tender Offer re £2

RNS Number : 8177Z

Kingfisher PLC

20 January 2011

 



Kingfisher plc Announces Results of Tender Offer   

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR TO ANY PERSON LOCATED OR RESIDENT IN ITALY

20 January 2011.  Kingfisher plc (the Company) today announces the results of its invitation to holders of its £250,000,000 5.625 per cent. Notes due 15 December 2014 (ISIN: XS0178322474) (the Notes) to tender their Notes for purchase by the Company for cash (the Offer). 

The Offer was made on the terms and subject to the conditions contained in the tender offer memorandum dated 10 January 2011 (the Tender Offer Memorandum). Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

The Offer expired at 4.00 p.m. (London time) on 19 January 2011. The Company has decided that the Actual Acceptance Amount will be £149,392,000 in aggregate nominal amount of the Notes, and that the Purchase Spread will be 1.40 per cent. Accordingly, all Notes tendered pursuant to (i) valid Non-Competitive Tender Instructions or (ii) valid Competitive Tender Instructions which specified a purchase spread of 1.40 per cent. or greater will be accepted for purchase by the Company and there will be no scaling of such tenders of Notes pursuant to the Offer. The Company will not accept for purchase any Notes tendered at purchase spreads of less than 1.40 per cent.

The Benchmark Security Rate, the Purchase Yield and the Purchase Price will be calculated at or around 3.00 p.m. (London time) today and will be announced by the Company as soon as reasonably practicable thereafter.

The expected Settlement Date for the Offer is 25 January 2011.

The Offer was not made to any person located or resident in the United States or Italy, and was also subject to restrictions in other jurisdictions, all as further described in the Tender Offer Memorandum. This announcement must be read in conjunction with the Tender Offer Memorandum. 

Barclays Bank PLC (tel: [phone]; email: [e-mail]) and UBS Limited (tel: [phone]; email: [e-mail]) are acting as Dealer Managers for the Offer and Deutsche Bank AG, London Branch is acting as Tender Agent.

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum.  No offer or invitation to acquire any securities is being made pursuant to this announcement.  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.

 

END

 

 

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