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BritishTransco Int. (94GK)

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Wednesday 22 March, 2017

BritishTransco Int.

Tender Offer

RNS Number : 1954A
British Transco Intl Finance BV
22 March 2017
 

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT

 

22 March 2017

BRITISH TRANSCO INTERNATIONAL FINANCE B.V.

ANNOUNCES FINAL RESULTS OF CASH TENDER OFFER

On 22 February 2017, British Transco International Finance B.V. (BTIF) announced an invitation to holders of its outstanding U.S.$1,500,000,000 Zero Coupon Guaranteed Bonds due 2021 (ISIN: XS0034394709) (the Bonds), guaranteed by National Grid Gas plc (NGG), to tender such Bonds for purchase by BTIF for cash (such invitation the Offer). Further to its announcements on 22 February 2017 and 8 March 2017, BTIF now announces the final results of the Offer.

The Offer was made on the terms and conditions contained in the tender offer memorandum dated 22 February 2017 (the Tender Offer Memorandum) prepared by BTIF in connection with the Offer.  Capitalised terms used but not otherwise defined in this announcement shall have the meanings given to them in the Tender Offer Memorandum.

Results of the Offer

The Early Tender Deadline for the Offer was 5.00 p.m. (New York City time) on 7 March 2017. As at the Early Tender Deadline, U.S.$531,250,000 in aggregate nominal amount of Bonds had been validly tendered (and not withdrawn) pursuant to the Offer. As announced by BTIF on 8 March 2017, BTIF decided to accept for purchase all Bonds validly tendered (and not withdrawn) pursuant to the Offer at or prior to the Early Tender Deadline in full, with no pro rata scaling. The Early Settlement Date for the Bonds validly tendered at or prior to the Early Tender Deadline was 10 March 2017.

The Expiration Deadline for the Offer was 11.59 p.m. (New York City time) on 21 March 2017. However, following the Early Settlement Date, the Remaining Tender Amount was U.S.$0 and accordingly BTIF will not accept for purchase any Bonds validly tendered pursuant to the Offer after the Early Tender Deadline.

Following settlement of the Offer, U.S.$942,750,000 in aggregate nominal amount of the Bonds remains outstanding.

RBC Capital Markets is acting as Dealer Manager for the Offer.  Lucid Issuer Services Limited is acting as Tender Agent. 

DEALER MANAGER

RBC Capital Markets

Riverbank House

London EC4R 3BF

United Kingdom

 

Telephone: +44 20 7029 7063

Attention: Liability Management Group

Brookfield Place

200 Vesey Street, 8th Floor

New York, NY 10281

United States of America

Telephone: +1 212 618 7822

Toll-free (USA and Canada): +1 877 381 2099

Attention: Liability Management Group

Email: [email protected]

TENDER AGENT

 

Lucid Issuer Services Limited

Tankerton Works

12 Argyle Walk

London WC1H 8HA

United Kingdom

Telephone: +44 20 7704 0880

Fax: +44 20 3004 1590

Attention: Arlind Bytyqi / David Shilson

Email: [email protected]

 

 

Further details relating to the contents of this announcement can be obtained from:

National Grid Gas plc

1-3 Strand

London WC2N 5EH

United Kingdom

Attention (treasury matters): Kwok Liu (Deputy Treasurer, +44 20 7004 3367)

A copy of this announcement is available in the investors section of the National Grid plc website at: http://investors.nationalgrid.com/rns.aspx

 

 

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 BTIF, NGG, the Dealer Manager and the Tender Agent to inform themselves about, and to observe, any such restrictions.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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