Business
Final Result of Tender Offer
Final Result of Tender Offer.
About this update from Standard Life Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY U.S. PERSON (as defined in regulation s under THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE \"SECURITIES ACT\")) (\"U.S. PERSON\") OR IN OR INTO THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (THE \"UNITED STATES\") OR in or into ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.\n5 December 2023\nPhoenix Group Holdings plc announces Final Results and Pricing of Offers\nPhoenix Group Holdings plc (the \"Company\") now announces the final results and pricing of its invitations made to the holders (the \"Noteholders\") of its outstanding £428,113,000 6.625 per cent. Subordinated Notes due 2025 (ISIN: XS1171593293) (the \"Sterling Notes\") and/or its U.S.$500,000,000 Fixed Rate Reset Tier 2 Notes due 2031 (ISIN: XS2182954797) (the \"U.S.$ Notes\" and, together with the Sterling Notes, the \"Notes\") as described in the tender offer memorandum dated 27 November 2023 (the \"Tender Offer Memorandum\") (each such invitation an \"Offer\" and together the \"Offers\").\nCapitalised terms used but not otherwise defined in this announcement shall have the meanings given to them in the Tender Offer Memorandum.\nThe Expiration Deadline for the Offers was 16:00 (London time) on 4 December 2023. The pricing of the Offer for the Sterling Notes took place at or around 11:00 (London time) today.\nThe Company hereby announces that it will accept for purchase in accordance with the terms and subject to the conditions (including the satisfaction or waiver of the Financing Condition) set out in the Tender Offer Memorandum and at the relevant Purchase Price, validly tendered Notes for purchase pursuant to the Offers, in an aggregate principal amount of approximately £350,000,000 (equivalent). The Company further announces that the aggregate principal amount of each Series accepted for purchase (each a \"Series Acceptance Amount\") will be as set out in the table below.\nPricing of the Offer for the Sterling Notes is also set out in the table below.\n \n\n\n\n\nDescription\n\n\nISIN/Common Code\n\n\nBenchmark Security Rate\n\n\nFixed Spread\n\n\nPurchase Price\n\n\nPurchase Yield\n\n\nSeries Acceptance Amount\n\n\nScaling Factor (Priority Tendered Notes)*\n\n\nScaling Factor (Non-Priority Tendered Notes)*\n\n\n\n\n£428,11...