REG - Aff WaterFin2004 Plc - Result of Tender Offer

Lloyds BankingAnnouncement

12/03/2025 14:00

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RNS Number : 4144A  Affinity Water Finance (2004) Plc  12 March 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON
LOCATED OR RESIDENT IN, OR AT ANY ADDRESS IN, THE UNITED STATES OF AMERICA,
ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA OR
THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR IN OR INTO OR TO ANY PERSON
RESIDENT OR LOCATED IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE,
PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

 

Affinity Water Finance (2004) PLC announces the results of its Tender Offer in
respect of its outstanding

Sub-Class 5.875 per cent. Guaranteed Notes due 2026 (ISIN: XS0195751523)

12 March 2025. Affinity Water Finance (2004) PLC *  (the "Company") announces
today the results of its invitation to the holders of its outstanding
Sub-Class 5.875 per cent. Guaranteed Notes due 2026 (ISIN: XS0195751523) (the
"Notes") to tender any and all of their Notes for purchase by the Company for
cash announced on 3 March 2025, subject to the satisfaction (in the sole
determination of the Company) or waiver of the New Financing Condition (as
defined in the Tender Offer Memorandum (as defined below)) (the "Offer").

This announcement is for information purposes only and should be read in
conjunction with the tender offer memorandum dated 3 March 2025 (the "Tender
Offer Memorandum") prepared by the Company. Capitalised terms used in this
announcement but not defined herein have the meanings given to them in the
Tender Offer Memorandum.

The New Financing Condition is expected to be satisfied on 13 March 2025.

The Company hereby announces that it accepts for purchase, subject to the
satisfaction (in the sole determination of the Company) or waiver of the New
Financing Condition, Notes validly tendered for purchase in the Offer in the
nominal amount set out in the table below. Pricing of the Offer for the Notes
is also set out in the table below.

 Description of the Notes                             ISIN/                       Benchmark Security Rate  Purchase Spread   Purchase Yield   Purchase Price     Final Acceptance Amount

Common Code
 Sub-Class 5.875 per cent. Guaranteed Notes due 2026   XS0195751523 / 019575152   4.040 per cent.          +90 basis points  5.001 per cent.  101.070 per cent.  £147,324,000

The Company will also pay the relevant Accrued Interest Payment with respect
to the purchased Notes.

The Offer commenced on 3 March 2025 and expired at 4:00 p.m. (London time) on
11 March 2025. Subject to the satisfaction (in the sole determination of the
Company) or waiver of the New Financing Condition, settlement of the Offer is
expected to take place on 13 March 2025 (the "Settlement Date"). After the
Settlement Date, the aggregate nominal amount of Notes expected to remain
outstanding is £102,676,000.

Notes purchased by the Company pursuant to the Offer will be cancelled by the
Company and will not be re-issued or re-sold. Notes which have not been
validly submitted pursuant to the Offer will remain outstanding, subject to
their existing terms and conditions.

Questions and requests for assistance in connection with the Offer may be
directed to the Dealer Managers, the contact details for each of which are set
out below:

 DEALER MANAGERS
 Barclays Bank PLC                       Lloyds Bank Corporate Markets plc
 1 Churchill Place                       10 Gresham Street

 London E14 5HP                          London EC2V 7AE

 United Kingdom                          United Kingdom

 Telephone: +44 20 3134 8515             Telephone: +44 20 7158 1726 / 1719

 Email: eu.lm@barclays.com               Email:  lbcmliabilitymanagement@lloydsbanking.com

 Attention: Liability Management Group   Attention: Liability Management

 TENDER AGENT
 Kroll Issuer Services Limited

 The Shard

 32 London Bridge Street

 London SE1 9SG

 United Kingdom

 Telephone: +44 20 7704 0880

 Attention: Arlind Bytyqi

 Email: affinitywater@is.kroll.com

 Tender Offer Website: https://deals.is.kroll.com/affinitywater

 

MARKET ABUSE REGULATION

This announcement is released by Affinity Water Finance (2004) PLC and
contains information that qualified or may have qualified as inside
information for the purposes of Article 7 of the Market Abuse Regulation (EU)
596/2014 ("MAR"), encompassing information relating to the Offer and proposed
new issue of New Notes described above. For the purposes of MAR and Article 2
of Commission Implementing Regulation (EU) 2016/1055, this announcement is
made by Adam Stephen, Director of Affinity Water Finance (2004) PLC.

DISCLAIMER

This announcement must be read in conjunction with the Tender Offer
Memorandum. Neither this announcement nor the Tender Offer Memorandum
constitutes an offer to buy or the solicitation of an offer to sell Notes (and
tenders of Notes in the Offer will not be accepted from Noteholders) in any
circumstances in which such offer or solicitation is unlawful. 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 the Tender Offer Memorandum comes are required by each of the
Company, the Dealer Managers and the Tender Agent to inform themselves about,
and to observe, any such restrictions. The Offer has now expired.

 

 *     LEI: 213800VYLS4N8MFRDK46

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