REG - Cadent Finance PLC Cadent Gas Limited - Maximum Acceptance Amount for Tender Offer

Mizuho FinancialAnnouncement

29/06/2023 09:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230629:nRSc2980Ea&default-theme=true

RNS Number : 2980E  Cadent Finance PLC  29 June 2023

Cadent Finance plc announces that the Maximum Acceptance Amount is
€500,000,000

in respect of its Tender Offer

for its €750,000,000 Fixed Rate Instruments due 2024

THIS 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 AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

NOT FOR RELEASE, PUBLICATION OR 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 TO ANY U.S. PERSON (AS
DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE,
PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT

29 June 2023. Cadent Finance plc (formerly known as National Grid Gas Finance
plc) (the Offeror) announces today that the Maximum Acceptant Amount is
€500,000,000 in respect of its invitation to holders of its €750,000,000
Fixed Rate Instruments due 2024 (ISIN: XS1493320656) (the Instruments)
guaranteed by Cadent Gas Limited (formerly known as National Grid Gas
Distribution Limited) (the Guarantor) to tender their Instruments for purchase
by the Offeror for cash (the Offer).

The Offer was announced on 26 June 2023 and was made on the terms and subject
to the conditions contained in the tender offer memorandum dated 26 June 2023
(the Tender Offer Memorandum). Capitalised terms used in this announcement but
not defined have the meanings given to them in the Tender Offer Memorandum.

The Expiration Deadline for the Offer is 4.00 p.m. (London time) on 4 July
2023. An announcement by the Offeror of the aggregate nominal amount of the
Instruments which were validly tendered for purchase pursuant to the Offer,
together with a non-binding indication of the level at which the Offeror
expects to set the Final Acceptance Amount (and indicative details of any pro
rata scaling) is expected to be made prior to the Pricing Time on 5 July 2023.

Barclays Bank PLC (Telephone: 44 20 3134 8515; Attention Liability Management
Group; Email: eu.lm@barclays.com); BNP Paribas (Telephone: +33 1 55 77 78 94;
Attention: Liability Management Group; Email:
liability.management@bnpparibas.com
(mailto:liability.management@bnpparibas.com) ); Crédit Agricole Corporate and
Investment Bank (Telephone: +44 20 7214 5733; Attention: Liability Management;
Email: liability.management@ca-cib.com); Mizuho International plc (Telephone:
+44 20 7090 6134; Attention: Liability Management; Email:
liabilitymanagement@uk.mizuho-sc.com); SMBC Nikko Capital Markets Limited
(Telephone: +44 204 507 5043; Attention: Liability Management; Email:
liability.management@smbcnikko-cm.com
(mailto:liability.management@smbcnikko-cm.com) ) are acting as Dealer Managers
and Kroll Issuer Services Limited (Telephone: +44 20 7704 0880; Attention:
Owen Morris; Email: cadent@is.kroll.com; Website:
https://deals.is.kroll.com/cadent (https://deals.is.kroll.com/cadent) ) is
acting as Tender Agent.

This announcement is released by the Offeror 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 as it forms part of UK
domestic law by virtue of the EUWA (UK MAR), encompassing information relating
to the Offer described above. For the purposes of UK MAR and the Implementing
Technical Standards, this announcement is made by Tom Sacker (Director of
Treasury, Corporate Finance and Planning), as attorney for Cadent Finance plc.

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, the Guarantor, the
Dealer Managers and the Tender Agent to inform themselves about, and to
observe, any such restrictions.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFPMRTMTJTBBJ