OI European Group B.V. has recently announced the results of its cash tender offer for its outstanding 2.875% senior notes due 2025. The offer, which expired on May 23, 2024, saw a total of €323,416,000 worth of notes tendered at a total consideration of €992.50 per €1,000 principal amount of notes.
The settlement date for the tender offer is scheduled for May 29, 2024, with all validly tendered and not withdrawn notes expected to be accepted for purchase. Holders whose notes are accepted for purchase will receive the total consideration specified in the offer to purchase for each €1,000 principal amount of notes, to be paid in cash, along with accrued and unpaid interest from the last interest payment date up to, but not including, the settlement date.
It is noteworthy that the total consideration for the tender offer is €992.50 per €1,000 principal amount of notes, and the aggregate principal amount of outstanding notes was €500,000,000.
Additionally, OI European Group B.V. engaged BNP Paribas as the dealer manager for the offer and appointed D.F. King as the information and tender agent. The company has also provided contact information for both BNP Paribas and D.F. King for any inquiries related to the offer.
The announcement further stated that OI European Group B.V. reserves the right, in its sole discretion, not to purchase any notes or to terminate the offer, subject to applicable laws and regulations.
It is also important to note that the announcement made by OI European Group B.V. is for informational purposes only and does not constitute a solicitation for acceptance of the offer or a notice of redemption under the indenture governing the notes. The distribution of the announcement in certain jurisdictions may be restricted by law.
The offer was not made to holders of notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky, or other laws of such jurisdiction. Furthermore, the announcement highlighted that no action has been or will be taken in any jurisdiction that would permit the possession, circulation, or distribution of the announcement or the offer to purchase in any jurisdiction where action for that purpose is required.
Following these announcements, the company's shares moved 3.3%, and are now trading at a price of $12.56. If you want to know more, read the company's complete 8-K report here.
