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Results of Exchange Offer
Results of Exchange Offer.
About this update from Itv Plc
[{"type":"text","content":"\n RNS Number : 5101U ITV PLC 25 June 2009 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES, OR TO ANY PERSON LOCATED OR RESIDENT IN THE REPUBLIC OF ITALY\n\n\n25 June 2009\n\nITV PLC ANNOUNCES RESULTS OF THE EXCHANGE OFFER TO HOLDERS OF ITS EUR500,000,000 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 of the Existing Notes 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'). On 22 June 2009, the Issuer announced an amendment to the terms of the Exchange Offer by way of an increase in the proposed coupon on the New Notes from 9.00 per cent. to 10.00 per cent. \nThe Exchange Offer was made on the terms and subject to the conditions contained in the exchange offer memorandum dated 10 June 2009 (the 'Exchange Offer Memorandum'), as amended pursuant to the announcement dated 22 June 2009, and the Exchange Offer is subject to the offer restrictions described in the Exchange Offer Memorandum. This announcement must be read in conjunction with the Exchange Offer Memorandum.\nThe Issuer is pleased to announce the results of the Exchange Offer:\n\n\n\n\n\nNominal amount of Existing Notes outstanding\n\n\nNominal amount of Existing Notes accepted in the Exchange Offer\n\n\n\n\nEUR500,000,000\n\n\nEUR268,387,000 \n\n\n\n\nAll conditions to the Exchange Offer have been met and, pursuant to the announcement of 22 June 2009, ITV (HC) Limited, a wholly-owned subsidiary of the Issuer, will acquire all Existing Notes which were validly offered for exchange in the Exchange Offer, in exchange for (i) the Combined Consideration (as amended pursuant to the announcement dated 22 June 2009), which will comprise EUR80,514,000 in cash and an aggregate nominal amount of EUR187,873,000 of New Notes issued by the Issuer, and (ii) approximately EUR44.38 in cash per EUR1,000 in nominal amount of Existing Notes exchanged, being equal to the Accrued Interest on such Existing Notes.\nThe Settlement Date for the Exchange Offer is expected to be 30 June 2009 and the ISIN for the New...