22nd Mar 2006 09:16
Sainsbury(J) PLC22 March 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THEUNITED STATES OR ITALY 22 March 2006 NOTICE To the Noteholders of the Outstanding £314,500,000 5.25 per cent. Notes due 2007 €800,000,000 5.625 per cent. Notes due 2008 £300,000,000 6.50 per cent. Notes due 2012 £250,000,000 6.125 per cent. Notes due 2017 £350,000,000 6.00 per cent. Notes due 2032 issued by J Sainsbury plc under its £2,500,000,000 Euro Medium Term Note Programme Confirmation of the proposed Settlement Date in respect of the repurchase of each Series of Existing Notes. Terms and expressions defined in the Tender Offer and Consent SolicitationMemorandum dated 24 February 2006 of J Sainsbury plc have the same meaning inthis announcement. Notice of Early Redemption J Sainsbury plc hereby notifies the Existing Noteholders that each of theSupplemental Trust Deeds was entered into by the parties thereto on 20 March2006 and, pursuant to the terms of each Supplemental Trust Deed, J Sainsbury plchereby gives notice to the Existing Noteholders that all of the Existing Notesof each of the Series of Existing Notes in respect of which an Acceptance Noticehas not been delivered pursuant to the relevant Offer (or has been delivered andsubsequently validly revoked) shall be redeemed on 24 March 2006 for an amountper £1,000 or €1,000 of nominal amount of Existing Notes equal to the applicableRepurchase Price (as set out in the notice dated 20 March 2006 and reproducedbelow), together with Accrued Interest (as set out in the notice dated 20 March2006 and reproduced below), subject to and conditional on the conditions to suchredemption set out in the relevant Supplemental Trust Deeds. 1. £314,500,000 5.25 per cent. Notes due 2007 (a) Repurchase Yield =4.764% (b) Benchmark Reference Security Yield = 4.364% (c) Repurchase Price = £1,004.53 per £1,000 Nominal Amount (d) Accrued Interest = £44.73(1) per £1,000 Nominal Amount 2. €800,000,000 5.625 per cent. Notes due 2008 (a) Repurchase Yield = 3.544% (b) Benchmark Reference Security Yield = 3.244% (c) Repurchase Price = €1,044.97 per €1,000 Nominal Amount (d) Accrued Interest = €39.45(2) per €1,000 Nominal Amount 3. £300,000,000 6.50 per cent. Notes due 2012 (a) Repurchase Yield = 5.328% (b) Benchmark Reference Security Yield = 4.378% (c) Repurchase Price = £1,057.14 per £1,000 Nominal Amount (d) Accrued Interest =£45.59(1) per £1,000 Nominal Amount 4. £250,000,000 6.125 per cent. Notes due 2017 (a) Repurchase Yield =5.457% (b) Benchmark Reference Security Yield = 4.357% (c) Repurchase Price = £1,048.01 per £1,000 Nominal Amount (d) Accrued Interest = £59.24(1) per £1,000 Nominal Amount 5. £350,000,000 6.00 per cent. Notes due 2032 (a) Repurchase Yield = 5.526% (b) Benchmark Reference Security Yield =4.126% (c) Repurchase Price = £1,053.76 per £1,000 Nominal Amount (d) Accrued Interest = £58.03(1) per £1,000 Nominal Amount Important Notice No offer or invitation to acquire or exchange any securities or proposals toExisting Noteholders is being made pursuant to this notice. Any such offer,invitation or proposals are only being made in the Offer Memorandum and any suchacquisition or exchange or acceptance of such proposals should be made solely onthe basis of information contained in the Offer Memorandum. A copy of the OfferMemorandum is available at the offices of the Existing Paying Agents. -------------------------- (1) Shown rounded to nearest £0.01 per £1,000; for actual calculations, accruedinterest is rounded to nearest £0.01 based on full position (2) Shown rounded to nearest €0.01 per €1,000; for actual calculations, accruedinterest is rounded to nearest €0.01 based on full position This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Sainsbury's