REG-Travis Perkins Travis Perkins: Indicative Results of Tender Offer

Travis PerkinsAnnouncement

10/04/2025 09:00

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   Travis Perkins (TPK)
   Travis Perkins: Indicative Results of Tender Offer

   10-Apr-2025 / 08:46 GMT/BST

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    TRAVIS PERKINS PLC ANNOUNCES INDICATIVE RESULTS OF ITS TENDER OFFER FOR
     ITS OUTSTANDING £250,000,000 3.750 PER CENT. GUARANTEED NOTES DUE 2026

   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  UNITED
   KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018
   (THE “EUWA”).

   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.

   10 April  2025. Travis  Perkins plc  (the “Offeror”)  announces today  the
   indicative  results  of  its  invitation   to  eligible  holders  of   its
   outstanding £250,000,000 3.750 per cent. Guaranteed Notes due 2026  (ISIN:
   XS2254262285) (the  “Notes”) to  tender their  Notes for  purchase by  the
   Offeror for cash in the Final Acceptance Amount (the “Offer”).

   The Offer was  announced on 2  April 2025 and  was made on  the terms  and
   subject to the conditions contained in the tender offer memorandum dated 2
   April 2025 (as it may  be supplemented or amended  from time to time,  the
   “Tender Offer Memorandum”) prepared by the Offeror in connection with  the
   Offer.

   Capitalised terms  used in  this  announcement but  not defined  have  the
   meanings given to them in the Tender Offer Memorandum.

   Indicative results

   The Expiration Deadline  for the Offer  was 4.00 p.m.  (London time) on  9
   April 2025.  As  at the  Expiration  Deadline, £214,920,000  in  aggregate
   principal amount of Notes  was validly tendered  for purchase pursuant  to
   the Offer.

   In the event the Offeror decides to accept valid tenders of Notes pursuant
   to  the  Offer,  it  expects  to  set  the  Final  Acceptance  Amount   at
   £125,000,000 in aggregate principal amount of Notes. On the basis of  such
   expected Final  Acceptance  Amount,  the Offeror  expects  to  accept  for
   purchase Notes validly tendered in the  Offer subject to pro rata  scaling
   at a Scaling Factor  of 57.5513 per cent.,  subject to potential  rounding
   adjustments, as further described in the Tender Offer Memorandum.

   Holders should note that this is a non-binding indication of the level  at
   which the  Offeror expects  to set  the Final  Acceptance Amount  and  the
   Scaling Factor.

   Pricing for the  Offer will  take place at  or around  10.30 a.m.  (London
   time) today (the “Pricing Time”). As soon as reasonably practicable  after
   the Pricing Time, the Offeror will announce the aggregate principal amount
   of Notes validly tendered for purchase  pursuant to the Offer, whether  it
   will accept valid tenders of Notes for purchase pursuant to the Offer and,
   if so accepted, the Final Acceptance Amount, the Benchmark Security  Rate,
   the Purchase Yield, the  Purchase Price and final  details of any  Scaling
   Factor that will  be applied  to valid tenders  of Notes  pursuant to  the
   Offer.

   The expected Settlement Date for the Offer is 11 April 2025.

   Dealer Managers and Tender Agent

   BNP   PARIBAS    (Telephone:    +33    1   55    77    78    94;    Email:
    1 liability.management@bnpparibas.com); and

   Lloyds Bank Corporate  Markets plc (Telephone:  +44 20 7158  1726 /  1719;
   Email:  2 lbcmliabilitymanagement@lloydsbanking.com) are acting as  Dealer
   Managers.

   Kroll Issuer Services  Limited (Telephone:  +44 20  7704 0880;  Attention:
   Owen    Morris;     Email:      3 travisperkins@is.kroll.com;     Website:
    4 https://deals.is.kroll.com/travisperkins) is acting as Tender Agent.

   UK MAR:  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 United  Kingdom domestic law by  virtue of the EUWA  (“UK
   MAR”), encompassing information relating to the Offer described above. For
   the purposes of UK  MAR and Article 2  of the binding technical  standards
   published by the Financial Conduct Authority in relation to MAR as regards
   Commission Implementing Regulation  (EU) 2016/1055,  this announcement  is
   made by  Robin  Miller, General  Counsel  & Company  Secretary  of  Travis
   Perkins plc.

   DISCLAIMER: This announcement must be read in conjunction with the  Tender
   Offer Memorandum. The offer  period for the Offer  has now expired and  no
   further tenders of Notes  may be made. 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 Dealer Managers and the Tender  Agent
   to inform themselves about, and to observe, any such restrictions.

    

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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:           GB00BK9RKT01
   Category Code:  TEN
   TIDM:           TPK
   LEI Code:       2138001I27OUBAF22K83
   OAM Categories: 2.2. Inside information
                   3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   382117
   EQS News ID:    2115292


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:liability.management@bnpparibas.com
   2. mailto:lbcmliabilitymanagement@lloydsbanking.com
   3. mailto:travisperkins@is.kroll.com
   4. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=79089ca962689ffa9ce3662de5765940&application_id=2115292&site_id=reuters~~~6aa99418-46f7-48b9-89fd-959a8d2e4912&application_name=news


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