REG-Ørsted A/S Tender offer for hybrid capital securities

Oersted A/SAnnouncement

05/03/2024 08:00

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   Ørsted A/S (Orsted)
   Tender offer for hybrid capital securities

   05-March-2024 / 08:59 CET/CEST

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   5.3.2024 08:58:48 CET | Ørsted A/S | Inside information

   NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN
   THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE
   UNITED STATES OR THE DISTRICT OF COLUMBIA (THE UNITED STATES), OR TO ANY
   US PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF
   1933), OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO
   DISTRIBUTE THIS ANNOUNCEMENT OR THE TENDER OFFER MEMORANDUM (AS DEFINED
   BELOW).

   This announcement and the Tender Offer Memorandum do not constitute an
   invitation to participate in the Offer (as defined below) in any
   jurisdiction in which, or to any person to or from whom, it is unlawful to
   make such invitation or for there to be such participation under
   applicable securities laws. The distribution of this announcement and the
   Tender Offer Memorandum in certain jurisdictions may be restricted by law.

   Ørsted A/S (‘Ørsted’) hereby invites holders of its:

   •    EUR 500,000,000 2.25 % hybrid capital securities due in 3017 (the
   ‘Capital Securities’; ISIN: XS1720192696)

   to tender the Capital Securities for purchase by Ørsted on the terms and
   subject to the conditions set out in the tender offer memorandum dated 5
   March 2024 (the ‘Tender Offer Memorandum’) (the ‘Offer’). The Offer is
   subject to the successful issuance of the subordinated green hybrid
   capital securities (‘New Hybrid Issue’) as also announced by Ørsted today.
   Capitalised terms used in this announcement and not otherwise defined have
   the meanings ascribed to them in the Tender Offer Memorandum.

   Ørsted will pay for Capital Securities accepted by it for purchase
   pursuant to the Offer a Purchase Price of 98.75 %. Ørsted will also pay
   Accrued Interest in respect of Capital Securities accepted for purchase
   pursuant to the relevant Offer.

   Together with Ørsted’s New Hybrid Issue, the purpose of the Offer is to
   refinance the Capital Securities and to proactively manage Ørsted’s hybrid
   capital portfolio. Capital Securities purchased by Ørsted pursuant to the
   Offer will be cancelled and will not be reissued or resold. Capital
   Securities which have not been validly offered and accepted for purchase
   pursuant to the Offer will remain outstanding.

   The Offer commences today, on 5 March 2024, and will expire at 17:00 CET
   on 11 March 2024. The results of the Offer will be announced as soon as
   reasonably practicable on 12 March 2024. Settlement of the Offer is
   scheduled to take place on 14 March 2024.

   Requests for information relating to the Offer should be directed to the
   Dealer Managers Citi, Danske Bank, HSBC, J.P. Morgan, and Morgan Stanley.

   The information provided in this announcement does not change Ørsted’s
   previous financial guidance for the financial year of 2024.
   For further information, please contact:

   Global Media Relations
   Carsten Birkeland Kjær
   +45 99 55 77 65
    1 cabkj@orsted.com 

   Investor Relations
   Rasmus Keglberg Hærvig
   +45 99 55 90 95
    2 ir@orsted.com  

   About Ørsted
   The Ørsted vision is a world that runs entirely on green energy. Ørsted
   develops, constructs, and operates offshore and onshore wind farms, solar
   farms, energy storage facilities, renewable hydrogen and green fuels
   facilities, and bioenergy plants. Ørsted is recognised on the CDP Climate
   Change A List as a global leader on climate action and was the first
   energy company in the world to have its science-based net-zero emissions
   target validated by the Science Based Targets initiative (SBTi).
   Headquartered in Denmark, Ørsted employs approx. 8,900 people. Ørsted's
   shares are listed on Nasdaq Copenhagen (Orsted). In 2023, the group's
   revenue was DKK 79.3 billion (EUR 10.6 billion). Visit  3 orsted.com or
   follow us on Facebook, LinkedIn, Instagram, and X.

       Attachments

     •  4 Tender offer for hybrid capital securities.pdf

   News Source: Ritzau

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          DK0060094928
   Category Code: TEN
   TIDM:          Orsted
   Sequence No.:  307537
   EQS News ID:   1851205


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:cabkj@orsted.com
   2. mailto:ir@orsted.com
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