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REG - GlaxoSK Capital PLC GSK PLC - Final results of outstanding Notes Tender Offer

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RNS Number : 5044G  GlaxoSmithKline Capital PLC  15 November 2022

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIES OR
MAY QUALIFY AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (EUWA).

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WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT

GlaxoSmithKline Capital plc announces results of tender offers for its
outstanding Notes (the Notes and each a Series) listed in the table below, in
each case guaranteed by GSK plc (GSK)

15 November 2022.

GlaxoSmithKline Capital plc (the Offeror) announces today the results of its
invitation to holders of its outstanding Notes to tender their Notes for
purchase by the Offeror for cash (each, an Offer and together, the Offers).
The Offeror announced the indicative results of the Offers earlier today.

The Offers were announced on 8 November 2022 and were made on terms and
subject to the conditions contained in the tender offer memorandum dated 8
November 2022 (the Tender Offer Memorandum). Capitalised terms used in this
announcement but not defined have the meanings given to them in the Tender
Offer Memorandum.

Results of the Offers

The Offeror announces that it will accept for purchase in cash an aggregate
nominal amount of the Notes validly tendered pursuant to the Offers equal to
£1,593,679,000. The final results of the Offers are as follows:

 

 Notes       Description of the Notes                                    ISIN / Common Code        Aggregate nominal amount of Notes tendered  Series Acceptance Amount  Scaling Factor  Purchase Yield (per cent.)  Purchase Price (per cent.)  Accrued Interest Payment (per £1,000)

                                                                                                                                                                         (per cent.)
 2027 Notes  £600,000,000 3.375 per cent. Notes due 20 December 2027     XS0866588527 / 086658852  £292,230,000                                £292,230,000              Not Applicable  4.388                       95.460                       £30.70
 2033 Notes  £1,000,000,000 5.250 per cent. Notes due 19 December 2033   XS0140516864 / 014051686  £734,199,000                                £350,051,000              47.700          4.238                       108.875                     £21.66
 2039 Notes  £700,000,000 6.375 per cent. Notes due 9 March 2039         XS0350820931 / 035082093  £409,561,000                                £0                        0.000           Not Applicable              Not Applicable              Not Applicable
 2042 Notes  £1,000,000,000 5.250 per cent. Notes due 10 April 2042      XS0294624373 / 029462437  £522,184,000                                £522,184,000              Not Applicable  4.495                       109.604                     £31.79
 2045 Notes  £800,000,000 4.250 per cent. Notes due 18 December 2045     XS0866596975 / 086659697  £429,214,000                                £429,214,000              Not Applicable  4.415                       97.639                      £38.89

General

The Settlement Date in respect of the Notes accepted for purchase pursuant to
the Offers is expected to be 17 November 2022.

Following the Settlement Date, £307,770,000 in aggregate nominal amount of
the 2027 Notes will remain outstanding, £649,949,000 in aggregate nominal
amount of the 2033 Notes will remain outstanding, £700,000,000 in aggregate
nominal amount of the 2039 Notes will remain outstanding, £477,816,000 in
aggregate nominal amount of the 2042 Notes will remain outstanding and
£370,786,000 in aggregate nominal amount of the 2045 Notes will remain
outstanding.

 

The Dealer Managers (in respect of the Offers as made to Relevant Noteholders)

 

BNP Paribas

16, boulevard des Italiens

75009 Paris

France

 

Telephone: +33 1 55 77 78 94

Attention: Liability Management Group

Email: liability.management@bnpparibas.com
(mailto:liability.management@bnpparibas.com)

J.P. Morgan Securities plc

25 Bank Street

Canary Wharf

London E14 5JP

United Kingdom

 

Telephone: +44 207 134 2468

Attention: EMEA Liability Management Group

Email: liability_management_EMEA@jpmorgan.com
(mailto:liability_management_EMEA@jpmorgan.com)

 

The Offeror

 

GlaxoSmithKline Capital plc

980 Great West Road

Brentford

Middlesex TW8 9GS

United Kingdom

 

Email: company.secretary@gsk.com

 

The Tender Agent

 

Kroll Issuer Services Limited

The Shard

32 London Bridge Street

London SE1 9SG

United Kingdom

 

Telephone: +44 20 7704 0880

Attention: David Shilson

Email: gsk@is.kroll.com

Website: https://deals.is.kroll.com/gsk

 

This announcement contains information that qualifies or may qualify as inside
information. The person responsible for arranging the release of this
announcement on behalf of GlaxoSmithKline Capital plc is Victoria Whyte,
Company Secretary.

 

DISCLAIMER This announcement must be read in conjunction with the Tender Offer
Memorandum. No offer or invitation to acquire any securities is being made
pursuant to this announcement. The distribution of this announcement and the
Tender Offer Memorandum in certain jurisdictions may be restricted by law.
Persons into whose possession this announcement and/or the Tender Offer
Memorandum comes are required by each of the Offeror, GSK, the Dealer Managers
and the Tender Agent to inform themselves about, and to observe, any such
restrictions.

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