Business
Bondholder notice
Bondholder notice.
About this update from Grainger Plc
[{"type":"text","content":"\n \nRNS Number : 6836T Grainger PLC 22 November 2013 \n \n\n22 November 2013\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, DISTRIBUTE OR PUBLISH THIS ANNOUNCEMENT\nGRAINGER PLC\n(the \"Issuer\")\nNotice to the holders of the £112,000,000 3.625 per cent. Convertible Bonds due 2014 (the \"Convertible Bondholders\" and the \"Convertible Bonds\", respectively)\nISIN: XS0298922617\nUnder Condition 3 of the Convertible Bonds, the Issuer has agreed that it will not, and will ensure that none of its Subsidiaries will, among other things, create any security interest over the whole or any part of its undertaking or assets to secure any Relevant Indebtedness or any guarantee in respect of any Relevant Indebtedness without at the same time according to the Convertible Bonds the same security interest. The Issuer has today announced that is has priced a proposed issue of £200m 5.0 per cent. Secured Notes due December 2020 (the \"New Notes\") which when issued will constitute Relevant Indebtedness. Accordingly, the floating charge security to be granted by the Issuer and certain of its Subsidiaries that will guarantee the New Notes (the \"Guarantors\") to secure the New Notes and the Guarantor's obligations under their guarantees of the New Notes (and which will also be shared by the lenders under certain loan facilities) will upon issue of the New Notes also secure the Convertible Bonds and the Guarantor's obligations under the guarantees of the Convertible Bonds which the Guarantors will give upon issue of the New Notes.\nCopies of the documents relating to the floating charge security and related intercreditor arrangements will be available for inspection at the specified office of the Principal Paying and Conversion Agent from the date of issue of the New Notes.\nUnless otherwise defined in this Notice, capitalised terms shall have the same meanings as given to them in the Conditions of the Convertible Bonds.\nThis Notice is given by Grainger plc.\nFor further information:\n\n\n\n\nGrainger plc\nMark Greenwood / Kurt Mueller\nTelephone: +44 (0) 20 7795 4700\n\n\nFTI Consulting\nStephanie Highett / Dido Laurimore / Will Henderson / Nick Taylor\nTelephone: +44 (0) 20 7831 3113\n\n\n\n\n \nDiscl...