Business
NGG Finance Plc launches Cash Tender Offer
NGG Finance Plc launches Cash Tender Offer.
About this update from National Grid Plc
[{"type":"text","content":"\n \nRNS Number : 2612K National Grid PLC 27 August 2019 \n\nTHIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE UNITED STATES) OR IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT (SEE \"OFFER AND DISTRIBUTION RESTRICTIONS\" BELOW).\nNGG FINANCE PLC LAUNCHES CASH TENDER OFFER\n27 August 2019\nNGG Finance plc (the Offeror) announces today that it is inviting holders of its outstanding €1,250,000,000 Fixed Rate Resettable Capital Securities due 2076 (ISIN: XS0903531795) (the Capital Securities) to tender their Capital Securities for purchase by the Offeror for cash subject to the satisfaction (or waiver) of the New Issue Condition (such invitation, the Offer).\nThe Offer is being made on the terms and subject to the conditions contained in the tender offer memorandum dated 27 August 2019 (the Tender Offer Memorandum) prepared by the Offeror in connection with the Offer, and is subject to the offer restrictions set out below and as more fully described in the Tender Offer Memorandum. Capitalised terms used but not otherwise defined in this announcement shall have the meanings given to them in the Tender Offer Memorandum.\nHolders are advised to read carefully the Tender Offer Memorandum for full details of, and information on the procedures for participating in, the Offer.\nSummary \nA summary of certain key terms relevant to the Offer appears below:\n\n\n\nDescription of the Capital Securities\n\n\nISIN / Common Code\n\n\nFirst Optional Redemption Date\n\n\nOutstanding Principal Amount\n\n\nPurchase Yield*\n\n\nAmount subject to the Offer\n\n\n\n\nFixed Rate Resettable Capital Securities due 2076\n\n\nXS0903531795 / 090353179\n\n\n18 June 2020\n\n\n€1,250,000,000\n\n\n-0.25 per cent.\n\n\nAn aggregate principal amount to be determined and announced by the Offeror as set out in the Ten...