Tender Offer

RNS Number : 1444F

Provident Financial PLC

06 January 2010

 



Provident Financial plc announces the cancellation of all bonds purchased by Provident Financial Investments Limited pursuant to the offer in respect of the £100,000,000 7.125% Subordinated Step-Up Bonds due 2015 issued by Provident Financial plc on 15 June 2005

6 January 2010

Offer

On 14 October 2009, Provident Financial Investments Limited (the "Offeror") announced an invitation to holders of the outstanding £100,000,000 7.125 per cent. Subordinated Step-Up Bonds due 2015 issued by Provident Financial plc on 15 June 2005 (ISIN: XS0220965759) (the "Bonds") to submit tenders to sell their Bonds to the Offeror for cash, in an unmodified Dutch auction (the "Offer").

On 23 October 2009, the Offeror accepted for purchase £94,021,000 in aggregate principal amount of Bonds validly tendered and not withdrawn in accordance with the terms and conditions of the Offer.

Cancellation of Bonds

Subsequent to such purchase, the Offerer has released Provident Financial plc from its obligations in respect of £94,021,000 in aggregate principal amount of the Bonds and Provident Financial plc has cancelled such Bonds, being all Bonds accepted for purchase pursuant to the Offer.  Bonds that were not successfully tendered for purchase pursuant to the Offer still remain outstanding and have not been cancelled.

This announcement does not constitute an offer to purchase any securities or a solicitation of an offer to sell any securities.

 

END

 

 

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