WPP PLC PRICING OF THE TENDER OFFER & CONSENT SOLICITATION
March 25 2019 - 11:39AM
Dow Jones News
TIDMWPP
RNS Number : 9263T
WPP PLC
25 March 2019
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE
MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU)
596/2014.
NOT FOR DISTRIBUTION TO ANY U.S. PERSON (AS DEFINED IN
REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED)
("U.S. PERSON") OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED
STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (TOGETHER, THE
"UNITED STATES") OR INTO ANY OTHER JURISDICTION OR TO ANY OTHER
PERSON WHERE OR TO WHOM IT IS UNLAWFUL TO DISTRIBUTE THIS
ANNOUNCEMENT.
25 March 2019
WPP FINANCE S.A.
ANNOUNCEMENT OF PRICING OF THE TENDER OFFER AND THE CONSENT
SOLICITATION
Earlier today, WPP Finance S.A. (the Offeror) announced the
results of the Tender Offer and the Proposal in respect of its
outstanding GBP200,000,000 6.375 per cent. Guaranteed Bonds due
2020 (ISIN: XS0329581333) (the Bonds).
Capitalised terms used in this announcement, and not otherwise
defined, have the meanings given to them in the tender offer and
consent solicitation memorandum dated 28 February 2019 (the Offer
Memorandum).
Notice is hereby given to Bondholders that: (i) the Early
Purchase Price will be 108.629 per cent. of the principal amount of
the relevant Bonds (being GBP1,086.29 per GBP1,000 in principal
amount of the relevant Bonds), based on an Early Purchase Yield of
0.956 per cent.[1]; (ii) the Late Purchase Price will be 107.629
per cent. of the principal amount of the relevant Bonds (being
GBP1,076.29 per GBP1,000 in principal amount of the relevant
Bonds); and (iii) the Mandatory Redemption Price will be 107.629
per cent. of the principal amount of the Bonds (being GBP1,076.29
per GBP1,000 in principal amount of the relevant Bonds).
The Offeror will also pay, on the Settlement Date, an Accrued
Interest Payment of GBP24.63 in respect of each GBP1,000
outstanding principal amount of Bonds accepted for purchase
pursuant to the Tender Offer.
The expected Settlement Date and the expected Mandatory
Redemption Date is 27 March 2019.
DEALER MANAGERS
Barclays Bank PLC NatWest Markets Plc
5 The North Colonnade 250 Bishopsgate
Canary Wharf London EC2M 4AA
London E14 4BB United Kingdom
United Kingdom Telephone: +44 (0) 20 7678 5222
Telephone: +44 (0) 20 3134 8515 Attention: Liability Management
Attention: Liability Management Email: liabilitymanagement@natwestmarkets.com
Group
Email: eu.lm@barclays.com
TENDER AND TABULATION AGENT
Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom
Telephone: +44 20 7704 0880
Attention: Thomas Choquet
Email: wpp@lucid-is.com
This announcement is released by WPP Finance S.A. and contains
information in relation to the Bonds 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 Tender Offer, the Consent Solicitation
and/or the Proposal described above. For the purposes of MAR and
Article 2 of Commission Implementing Regulation (EU) 2016/1055,
this announcement is made by Paul Richardson, Group Finance
Director.
DISCLAIMER
This announcement must be read in conjunction with the Offer
Memorandum. No offer or invitation to acquire any securities is
being made pursuant to this announcement. The distribution of this
announcement and the Offer Memorandum in certain jurisdictions may
be restricted by law. Persons into whose possession this
announcement and/or the Offer Memorandum comes are requested by
each of the Offeror, the Trustee, the Dealer Managers and the
Tender and Tabulation Agent to inform themselves about and to
observe any such restrictions.
[1] The Early Purchase Yield is the annualised sum of the Tender
Spread and the Benchmark Security Rate and for the purposes of this
announcement has been rounded to the nearest 0.001 per cent. with
0.0005 per cent. being rounded upwards.
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 or visit www.rns.com.
END
MSCGMGZFKKMGLZM
(END) Dow Jones Newswires
March 25, 2019 11:24 ET (15:24 GMT)
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