Business
Result of Tender Offer
Result of Tender Offer.
About this update from Tp Icap Group Plc
[{"type":"text","content":"\n \nRNS Number : 1414A TP ICAP PLC 24 May 2019 \n\nTP ICAP plc announces the results of its Tender Offer in respect of its \n£500,000,000 5.250 per cent. Notes due 2024 (ISIN: XS1555815494)\n24 May 2019. On 16 May 2019, TP ICAP plc (the Company) announced an invitation to eligible holders of its outstanding £500,000,000 5.250 per cent. Notes due 2024 (ISIN: XS1555815494) (the Notes) to tender their Notes for purchase by the Company for cash up to the Maximum Acceptance Amount, subject to satisfaction of the New Financing Condition (the Offer). \nThe Offer was made on the terms and subject to the conditions contained in a tender offer memorandum dated 16 May 2019 (the Tender Offer Memorandum) prepared by the Company, and subject to the offer restrictions set out in 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 23 May 2019. The Company now announces the results of the Offer.\nResults of the Offer\nThe Company is pleased to announce that, conditional upon the satisfaction or waiver of the New Financing Condition, it will accept £68,625,000 in aggregate principal amount of Notes validly tendered in the Tender Offer. The pricing and acceptance of the Tender Offer is as follows:\n\n\n\nDescription\nof the Notes\n\n\nISIN /\nCommon Code \n\n\nAggregate Principal Amount accepted for purchase\n\n\nScaling Factor\n\n\nPurchase Price\n\n\nAggregate Principal Amount outstanding after the Settlement Date \n\n\n\n\n£500,000,000 5.250 per cent. Notes due 2024\n\n\nXS1555815494 / 155581549\n\n\n£68,625,000 \n\n\nNo scaling will be applied\n\n\n104.00 per cent.\n\n\n£431,375,000 \n\n\n\nAll Notes purchased by the Company will be cancelled and will not be reissued or resold. Notes which have not been successfully submitted and accepted for purchase pursuant to the Tender Offer will remain outstanding after the Settlement Date.\nThe Settlement Date for the Offer (subject to the satisfaction or waiver of the New Financing Condition) is expected to be 30 May 2019.\nThe New Financing Condition will be satisfied upon the successful completion (in the sole determination of the Company) of the issue of the New Notes. The completion of the issue of the New Notes (and, accor...