Business
ITV plc ?500m Series 2006-2 F
ITV plc ?500m Series 2006-2 F.
About this update from Itv Plc
[{"type":"text","content":"\n RNS Number : 2705U ITV PLC 22 June 2009 \n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, OR TO ANY PERSON LOCATED OR RESIDENT IN THE REPUBLIC OF ITALY\n(SEE 'OFFER RESTRICTIONS' BELOW)\n\n\n22 June 2009\n\n\nITV PLC ANNOUNCES AN INCREASE IN THE PROPOSED COUPON ON THE NEW NOTES BEING OFFERED FOR EXCHANGE TO HOLDERS OF ITS €500,000,000 SERIES 2006-2 FIXED RATE NOTES DUE 2011 (THE 'EXISTING NOTES')\n\nOn 10 June 2009, ITV plc (the 'Issuer') announced an invitation to holders (subject as set out under 'Offer Restrictions' below) of the Existing Notes (the 'Noteholders') to offer to exchange (the 'Exchange Offer') any or all of such Existing Notes on a nominal for nominal basis for a consideration of approximately 30% cash and 70% new Euro Denominated 9.00 per cent. Notes due 2014 (the 'New Notes' and together, 'the Combined Consideration'). The Exchange Offer is being made on the terms and subject to the conditions contained in the exchange offer memorandum dated 10 June 2009 (the 'Exchange Offer Memorandum'). This announcement must be read in conjunction with the Exchange Offer Memorandum.\n\nThe Issuer hereby announces an amendment to the terms of the Exchange Offer as set out in the Exchange Offer Memorandum by way of an increase in the proposed coupon on the New Notes from 9.00 per cent. to 10.00 per cent. No other changes to the terms of the New Notes are being proposed and the Issuer does not intend to propose any further improvements to the Exchange Offer. This amendment to the Exchange Offer follows discussions with several substantial holders of the Existing Notes.\nThe key terms of the Existing Notes and the New Notes are now as follows:\n\n\n\n\n\nNominal Amount of the Existing Notes\n\n\nCoupon of the Existing Notes\n\n\nMaturity of the Existing Notes\n\n\nCommon Code / ISIN\n\n\n\n\n€500,000,000 \n\n\n6.00 per cent. #\n\n\n3 October, 2011\n\n\n026987890 / XS0269878905\n\n\n\n\n# The fixed rate coupon on the Existing Notes steps-down to 4.75% in certain circumstances described in the relevant Final Terms\n\n\n\n\n\n\n\n\nNominal Amount of the New Notes\n\n\nCoupon of the New Notes\n\n\nMaturity of the New Notes\n\n\n\n\nup to €350,000,000\n\n\n10.00 per cent. #\n\n\nThe fifth anniversary of the Settlement Date\n\n\n\n\n# The fixed rate coupon on the ...