Business
Results of tender for Perpetual Capital Securities
Results of tender for Perpetual Capital Securities.
About this update from Pennon Group Plc
[{"type":"text","content":"\n \nRNS Number : 0955R Pennon Group PLC 19 September 2017 \n\n \nPennon Group plc announces results of its Tender Offer\nfor its £300,000,000 Perpetual Capital Securities\nTHIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.\nNOT FOR 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 OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT\n19 September 2017. Pennon Group plc1 (the Company) announces today the results of its invitation to holders of its £300,000,000 Perpetual Capital Securities (ISIN: XS0899989213) (the Capital Securities) to tender their Capital Securities for purchase by the Company for cash (the Offer).\nThe Offer was announced on 11 September 2017 and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 11 September 2017 (the Tender Offer Memorandum). Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.\nThe Expiration Deadline for the Offer was 4.00 p.m. (London time) on 18 September 2017. As at the Expiration Deadline, £285,800,000 in aggregate principal amount of the Capital Securities were validly tendered for purchase pursuant to the Offer.\nThe Company announces that, subject to satisfaction or waiver of the New Financing Condition on or prior to the Settlement Date, it has decided to accept for purchase all Capital Securities validly tendered pursuant to the Offer, at a cash purchase price equal to 103.00 per cent. of the principal amount of the relevant Capital Securities, together with an Accrued Periodic Returns Payment.\nA summary of the final results of the Offer appears below:\n\n\n\n\nDescription of the Capital Securities\n\n\nISIN / Common Code\n\n\nPurchase Price\n\n\nPrincipal Amount of Capital Securities accepted for purchase2\n\n\n\n\n£300,000,000 Perpetual Capital Securities\n\n\nXS0899989213 / 089998921\n\n\n103.00 per cent.\n\...