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

Oersted A/SAnnouncement

29/11/2022 08:15

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

   29-Nov-2022 / 09:09 CET/CEST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   29.11.2022 09:08:50 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 700,000,000 6.25 % hybrid capital securities due 3013 which is
       callable at par on the first interest reset date, 26 June 2023, of
       which EUR 349,978,000 is currently outstanding (the ‘Securities’;
       ISIN: XS0943370543)

   to tender Securities for purchase by Ørsted on the terms and subject to
   the conditions set out in the tender offer memorandum dated 29 November
   2022 (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 Securities accepted by it for purchase pursuant to
   the Offer) a Purchase Price of 102.00 % of the principal amount. Ørsted
   will also pay Accrued Interest in respect of 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 Securities and to proactively manage Ørsted’s hybrid capital
   portfolio. Securities purchased by Ørsted pursuant to the Offer will be
   cancelled and will not be reissued or resold. Securities which have not
   been validly offered and accepted for purchase pursuant to the Offer will
   remain outstanding.

   The Offer commences today, 29 November 2022 and will expire at 17:00 (CET)
   on 5 December 2022. The results of the Offer will be announced as soon as
   reasonably practicable on the 6 December 2022. Settlement of the Offer is
   scheduled to take place on 8 December 2022.

   The information provided in this announcement does not change Ørsted’s
   financial outlook for the 2022 financial year or the expected investment
   level announced for 2022.

   For further information, please contact:

   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. Moreover, Ørsted provides energy
   products to its customers. Ørsted is the only energy company in the world
   with a science-based net-zero emissions target as validated by the Science
   Based Targets initiative (SBTi), and Ørsted aims to deliver a net-positive
   biodiversity impact from all new renewable energy projects it commissions
   from 2030 at the latest. Ørsted ranks as the world’s most sustainable
   energy company in Corporate Knights' 2022 index of the Global 100 most
   sustainable corporations in the world and is recognised on the CDP Climate
   Change A List as a global leader on climate action. Headquartered in
   Denmark, Ørsted employs approx. 7,700 people. Ørsted's shares are listed
   on Nasdaq Copenhagen (Orsted). In 2021, the group's revenue was DKK 77.7
   billion (EUR 10.4 billion). Visit orsted.com or follow us on Facebook,
   LinkedIn, Instagram, and Twitter.

       Attachments

     •  3 Tender offer for hybrid capital securities.pdf

   News Source: Ritzau

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   ISIN:          DK0060094928
   Category Code: TEN
   TIDM:          Orsted
   Sequence No.:  204524
   EQS News ID:   1499859


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:cabkj@orsted.com
   2. mailto:ir@orsted.com
   3. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=4ece1616991df8047988008441965fed&application_id=1499859&site_id=refinitiv&application_name=news


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