Thomas Cook Group PLC Announcement of pricing of senior notes (8706Q)
December 02 2016 - 12:27PM
UK Regulatory
TIDMTCG
RNS Number : 8706Q
Thomas Cook Group PLC
02 December 2016
THIS ANNOUNCEMENT IS NOT FOR GENERAL PUBLICATION, DISTRIBUTION
OR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN OR IN ANY OTHER JURISDICTION IN WHICH
OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW
Announcement of pricing of EUR750 million Senior Notes by Thomas
Cook
2 December 2016
Thomas Cook Group plc (the "Issuer" or the "Company") today
announces that it has priced its offering of EUR750,000,000
aggregate principal amount of Senior Notes due 2022 (the "Notes")
at an issue price of 100%. The Notes will bear interest at a rate
of 6.25% and will mature on 15 June 2022. The Notes include a call
option in favour of the Issuer exercisable after two and a half
years, subject to a call schedule with step-downs up to maturity.
The Notes are guaranteed by Thomas Cook Finance plc and the
Issuer's subsidiaries that guarantee Thomas Cook Finance plc's
existing notes due 2021.
The offering is expected to close on or about 8 December 2016,
subject to the satisfaction of various customary closing
conditions.
Thomas Cook intends to use the proceeds of the offering,
together with cash on hand, (i) to redeem its outstanding
guaranteed senior unsecured fixed rate notes due in June 2017 and
(ii) to redeem its outstanding guaranteed senior unsecured fixed
rate notes due in June 2020.
Michael Healy, Group Chief Financial Officer, said "I am
delighted with the strong demand we have seen for our new bond,
which has allowed us to increase the size of the issue from the
EUR300 million we had expected, to EUR750 million. By extending
maturities with a lower interest cost than our existing bonds, this
bond greatly enhances our financial and operational flexibility,
and supports the progress we are making towards our financial
targets."
This announcement is for information purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy
the Notes or any other security and shall not constitute an offer,
solicitation or sale in the United States or in any jurisdiction in
which, or to any persons to whom, such offering, solicitation or
sale would be unlawful.
The Notes and any related guarantees have not been, and will not
be, registered under the U.S. Securities Act of 1933, as amended
(the "Securities Act"), or any U.S. state securities laws, and may
not be offered or sold within the United States or to, or for the
account or benefit of, U.S. persons except pursuant to an exemption
from, or in a transaction not subject to, the registration
requirements of the Securities Act. Accordingly, the Notes and any
related guarantees are being offered and sold in the United States
only to qualified institutional buyers in accordance with Rule 144A
under the Securities Act and to non-U.S. persons in offshore
transactions outside the United States in accordance with
Regulation S under the Securities Act.
The offer and sale of the Notes will be made pursuant to an
exemption under the Prospectus Directive, as implemented in Member
States of the European Economic Area, from the requirement to
produce a prospectus for offers of securities. This announcement
does not constitute an advertisement for purposes of the Prospectus
Directive.
No money, securities or other consideration is being solicited,
and, if sent in response to the information contained herein, will
not be accepted.
This announcement contains "forward-looking statements" that are
based on estimates and assumptions and are subject to risks and
uncertainties. Forward-looking statements are all statements other
than statements of historical fact or statements in the present
tense, and can be identified by words such as "targets", "aims",
"aspires", "assumes" "believes", "estimates", "anticipates",
"expects", "intends", "hopes", "may", "would", "should", "could",
"will", "plans", "predicts" and "potential", as well as the
negatives of these terms and other words of similar meaning. The
forward-looking statements in this announcement are made based upon
the Company's estimates, expectations and beliefs concerning future
events affecting the Company and are subject to a number of known
and unknown risks and uncertainties. Such forward-looking
statements are based on numerous assumptions regarding the
Company's present and future business strategies and the
environment in which it will operate, which may prove not to be
accurate. The Company cautions that these forward-looking
statements are not guarantees and that actual results could differ
materially from those expressed or implied in these forward-looking
statements. Undue reliance should, therefore, not be placed on such
forward-looking statements. Any forward-looking statements
contained in this announcement apply only as at the date of this
announcement and are not intended to give any assurance as to
future results. The Company will update this announcement as
required by applicable law, including the Prospectus Rules, the
Listing Rules, the Disclosure and Transparency Rules, and any other
applicable law or regulations, but otherwise expressly disclaims
any obligation or undertaking to update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
This announcement contains inside information by the Issuer
under Regulation (EU) 596/2014 (16 April 2014).
-----------------
For further information,
please contact:
Analysts & Investors
James Sandford, Thomas
Cook Group
Tej Randhawa, Thomas +44 (0) 20 7557 6433
Cook Group +44 (0) 20 7557 6487
Media
Robin Tozer, Thomas
Cook Group +44 (0) 20 7294 7031
Matthew Magee, Thomas
Cook Group +44 (0) 20 7294 7059
This information is provided by RNS
The company news service from the London Stock Exchange
END
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