19th Jan 2016 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO 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, AND THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (EACH A "U.S. PERSON")) OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. OTHER RESTRICTIONS APPLY (SEE "OFFER AND DISTRIBUTION RESTRICTIONS" IN THE TENDER OFFER MEMORANDUM).
19 January 2016
On 11 January 2016, Vedanta Resources plc (the "Offeror") launched an invitation to holders of the outstanding bonds detailed in the table below to tender their Bonds for purchase by the Offeror for cash (the "Offer") at a price to be determined pursuant to a modified Dutch auction.Further to the above-mentioned announcement, the Offeror hereby announces that:
(a) the Maximum Acceptance Amount of the outstanding Bonds that the Offeror might purchase has been decreased from U.S.$500,000,000 to U.S.$227,400,000; and
(b) the Acceptance Amount and the Purchase Price are set out in the table below:
Description of the Bonds | Common code/ISIN | Outstanding principal amount following settlement of the Offer | Specified Denomination of the Bonds | Maximum Acceptance Amount | Purchase Price | Acceptance Amount |
U.S.$1,250,000,000 5.50 per cent. Guaranteed Convertible Bonds due 2016 (the "Bonds") | 043472208/ XS0434722087 | U.S.$907,100,000 | U.S.$100,000 | U.S.$227,400,000 in aggregate principal amount
| U.S.$91,000 per U.S.$100,000 in principal amount of the Bonds | U.S.$227,400,000 in aggregate principal amount of the Bonds |
Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the tender offer memorandum dated 11 January 2016 (the "Tender Offer Memorandum").
All Bonds tendered at an Offer Price at or below the Purchase Price have been accepted in full without pro-ration. Bonds submitted pursuant to Competitive Offers at an Offer Price higher than the Purchase Price will not be accepted pursuant to the Offer.
The total consideration payable to each Bondholder in respect of Bonds validly submitted for tender and accepted for purchase pursuant to the Offer, will be an amount in cash (rounded to the nearest U.S.$0.01, with U.S.$0.005 rounded upwards) equal to the sum of (i) the Purchase Price in respect of the aggregate principal amount of such Bonds validly tendered by a Bondholder and accepted for purchase by the Offeror (the "Purchase Consideration") and (ii) the Accrued Interest Payment in respect of such Bonds (of U.S.$106.94 per U.S.$100,000 in principal amount of the Bonds).
The expected Settlement Date for the Offer is 20 January 2016.
Contact Details:
THE OFFEROR
Vedanta Resources plc6 St Andrew StreetLondon EC4A 3AEUnited Kingdom
THE DEALER MANAGERS
J.P Morgan Securities plc 25 Bank Street Canary Wharf London E14 5JP United Kingdom
Telephone: +44 207 134 1478Attention: ECM Europe Syndicate DeskEmail: [email protected] | Standard Chartered Bank 8 Marina Boulevard, Level 20 Marina Bay Financial Centre Tower 1 Singapore 018981
Telephone: +65 6596 8435Attention: Liability ManagementEmail: [email protected] |
THE TENDER AGENT
Lucid Issuer Services Limited
Tankerton Works12 Argyle WalkLondon WC1H 8HAUnited Kingdom
Telephone: +44 20 7704 0880Attention: Thomas ChoquetEmail: [email protected]
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.
Neither this announcement, the Tender Offer Memorandum nor the electronic transmission thereof constitutes an offer to buy or the solicitation of an offer to sell Bonds (and tenders of Bonds for purchase pursuant to the Offer will not be accepted from Bondholders) in any circumstances in which such offer or solicitation is unlawful.
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