7th Jun 2005 13:30
Vodafone Group Plc07 June 2005 7 June 2005 VODAFONE ANNOUNCES REPURCHASES OF OSKAR AND MOBIFON BONDS Vodafone Group Plc ("Vodafone") today announces, following the recent completionof the acquisition of 100% of Oskar Mobil a.s. ("Oskar") in the Czech Republicand the increase in its stake in MobiFon S.A. in Romania to approximately 99%,the exercise of bond redemption rights by Oskar and the launch of a bond tenderand consent solicitation by MobiFon Holdings B.V. ("MobiFon"). OSKAR Oskar has given notice to holders of its €325 million 7.50% First PrioritySenior Secured Notes due 2011 (the "Oskar Notes") to exercise its right toredeem: * 35% of outstanding notes at a price of €1,075 per €1,000 principal amount, with redemption on 7 July 2005; and * 65% of outstanding notes using a "make-whole" provision at a price calculated with reference to the sum of the yield to maturity as at 3.30pm Frankfurt time on 1 July 2005 on the Bundesobligation due 10 October 2008 and 0.5%, with redemption on 8 July 2005. Following settlement of these two redemption provisions, no Oskar Notes willremain outstanding. MOBIFON MobiFon has launched a tender offer and consent solicitation (together the"Tender Offer") for its U.S.$223 million 12.50% Senior Notes due 2010 (the"Notes"). In line with the pricing mechanics of the Oskar Notes redemption, the TenderOffer price is equal to the sum of: * 35% of U.S.$1,125 per U.S.$1,000 principal amount of Notes validly tendered; and * 65% of a price calculated with reference to the sum of the yield to maturity as at 2.00pm New York time on 20 June 2005 on the US Treasury Note due 31 May 2007 and 0.5%. Noteholders who tender their Notes after 21 June 2005 will receive the aboveprice less U.S.$20 per U.S.$1,000 in principal amount. The Tender Offer willexpire at 5.00pm New York time, on 6 July 2005 unless extended byMobiFon in its sole discretion, or terminated earlier. Goldman, Sachs & Co. isacting as Dealer Manager in the Tender Offer. MobiFon is not obliged to repurchase any Notes unless Notes representing over50% in aggregate principal amount are tendered, in which case substantially allthe restrictive covenants in such Notes will be removed. If 66 and 2/3% inaggregate principal amount of Noteholders tender their Notes then a furthercovenant limiting the investment activities of MobiFon will also be removed.Such amendments will bind all Notes including those which have not been tenderedand remain outstanding. Following the successful conclusion of the Tender Offer,MobiFon will seek to have its reporting requirements to the Securities andExchange Commission suspended. Vodafone has no intention of guaranteeing therepayment of principal and interest on the Notes. For further information: Vodafone Group Simon Lewis, Group Corporate Affairs DirectorTel: +44 (0) 1635 673310 Investor Relations Media RelationsCharles Butterworth Bobby LeachDarren Jones Ben PadovanSarah Moriarty Tel: +44 (0) 1635 673310Tel: +44 (0) 1635 673310 Goldman Sachs D.F. King & Co, Inc.Liability Management Group Tel: + 1 212 269 5550Tel:+ 1 800 828 3182 Or: + 1 800 848 3416Or: + 1 212 357 3019 This press release is neither an offer to purchase nor a solicitation of anoffer to sell securities. The Tender Offer is made upon the terms and subject tothe conditions set forth in MobiFon's Consent Solicitation and Offer to Purchasedated 7 June 2005. Persons with questions regarding the offer should contactGoldman, Sachs & Co. attention: Liability Management Group at + 1 212 357 3019or toll free at + 1 800 828 3182. Requests for copies of the ConsentSolicitation and Offer to Purchase should be directed to the Information Agent,D.F. King & Co, Inc. at + 1 212 269 5550 or toll free at + 1 800 848 3416. This announcement has been issued by Vodafone and is the sole responsibility ofVodafone and has been approved solely for the purposes of Section 21 of theFinancial Services and Markets Act 2000 by Goldman Sachs International. Goldman, Sachs & Co. is acting for Vodafone and no one else in connection withthe Tender Offer and will not be responsible to any other person for providingthe protections afforded to clients of Goldman, Sachs & Co., or for providingadvice in relation to the Tender Offer. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Vodafone