17th Mar 2006 07:03
Sainsbury(J) PLC17 March 2006 17 March 2006 J Sainsbury plc updates on tender offer for its unsecured bonds On 24 February 2006, Sainsbury's announced plans to raise new secured debt of upto £2.07 billion and simultaneously offered to purchase its outstandingunsecured bonds totalling £1.7 billion. Details of the offer were set out inthe tender offer and consent solicitation memorandum dated 24 February 2006 (thememorandum). Sainsbury's now informs the existing bondholders that, as at the expiration date(16 March 2006) bondholders representing over 75 per cent in aggregate, of thenominal amount in each of the following existing bonds, have accepted the offerand consequently, appointed the tender agent as proxy to vote in favour of theextraordinary resolutions to be considered at the bondholders' meetings on 20March 2006: • £314.5 million 5.25% Notes due 2007 • €800 million 5.625% Notes due 2008 • £300 million 6.50% Notes due 2012 • £250 million 6.125% Notes due 2017 • £350 million 6.0% Notes due 2032 Expected timetable: 20 March 2006 - Bondholder meetings (am) / pricing date (pm); 22 March 2006 - Confirmation date 24 March 2006 - settlement date. The pricing on the CMBS is expected on 20 March 2006 with settlement on 24 March2006. No offer or invitation to acquire or exchange any securities or proposals toexisting bondholders is being made pursuant to this announcement. Any suchoffer, invitation or proposal is only being made in the offer memorandum and anysuch acquisition or exchange or acceptance of such proposal should be madesolely on the basis of information contained in the memorandum. A copy of thememorandum is available at the offices of the existing paying agents. The offeris subject to certain restrictions as set out in the memorandum. Dealer Managers Morgan Stanley UBSSyndicate +44 (0) 20 7677 7240 Syndicate +44 (0) 20 7568 2902Liability Management +44 (0) 20 7677 5040 Liability Management +44 (0) 20 7568 3118 Enquiries: Investor relations Media+44 (0) 20 7695 7162 +44 (0) 20 7695 6127Lynda Ashton Pip Wood This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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