8th Aug 2006 14:27
Tesco PLC08 August 2006 TESCO PLC announces pricing and final results of Tender Offer in respect of its£350,000,000 5.125 per cent. Notes due 2009, its £250,000,000 6.00 per cent.Notes due 2008 and its £325,000,000 7.50 per cent. Notes due 2007 NOT FOR DISTRIBUTION TO ANY PERSON RESIDENT AND/OR LOCATED IN THE UNITED STATESOR ITALY (SEE OFFER AND DISTRIBUTION RESTRICTIONS BELOW) London, UK, 8 August 2006, - TESCO PLC (the Company) today announced the pricingfor its successful offer (the Offer) to repurchase for cash any and all of itsoutstanding £350,000,000 5.125 per cent. Notes due 2009 (the 2009 Notes), andcertain amounts of its £250,000,000 6.00 per cent. Notes due 2008 (the 2008Notes) and £325,000,000 7.50 per cent. Notes due 2007 (the 2007 Notes and,together with the 2009 Notes and the 2008 Notes, the Notes) that was launched on27 July 2006. As a result of the Offer, made as part of its commitment to active management ofits balance sheet and debt maturity profile, the Company has decreased itsoutstanding debt obligations by approximately £350,000,000. The final results of the Offer are as follows: Description of Aggregate Pro-ration Repurchase Benchmark Offer Side Repurchase Repurchase the Notes nominal factor Spread Security Benchmark Yield Price amounts Security Rate accepted for repurchase £350,000,000 £158,071,000 N/A 25 bps 4.00 per cent. UK 4.913% 5.163% 99.656%5.125 per Treasury Gilt duecent. Notes 2009due 2009 £250,000,000 £125,067,000 N/A 25 bps 5.00 per cent. UK 4.917% 5.167% 101.290%6.00 per cent. Treasury Gilt dueNotes due 2008 2008 £325,000,000 £66,901,000 38.2% 22 bps 4.50 per cent. UK 4.875% 5.095% 102.153%7.50 per cent. Treasury Gilt dueNotes due 2007 2007 Settlement will be on Friday 11 August 2006. BNP Paribas and Citigroup Global Markets Limited acted as Dealer Managers.Citibank N.A. acted as Tender Agent.Requests for information in relation to the Offer should be directed to: Dealer Managers BNP PARIBAS Citigroup Global Markets Limited 10 Harewood Avenue Citigroup Centre London NW1 6AA Canada Square Attention: Debt Restructuring Group Canary Wharf Email: [email protected] London E14 5LB Tel: +44 (0) 20 7595 8668 Attention: Liability Management Group Email: [email protected] Tel: +44 (0) 20 7986 8969 A copy of the Tender Offer Memorandum is available for inspection at theDocument Viewing Facility of the Financial Services Authority, 25 The NorthColonnade, London E14 5HS. DISCLAIMER This announcement must be read in conjunction with the Tender OfferMemorandum. This announcement and the Tender Offer Memorandum contain importantinformation which should be read carefully. None of the Company, BNP Paribas,Citigroup Global Markets Limited or Citibank, N.A. made any recommendationwhether Noteholders should tender Notes in the Offer. OFFER AND DISTRIBUTION RESTRICTIONS The distribution of this announcement and the Tender Offer Memorandum in certainjurisdictions may be restricted by law. Persons into whose possession thisannouncement and/or the Tender Offer Memorandum comes are required by theCompany and the Dealer Managers to inform themselves about and to observe anysuch restrictions. Neither this announcement nor the Tender Offer Memorandumconstitutes an offer to buy or a solicitation of an offer to sell the Notes, andtenders of Notes in the Offer have not been accepted from Noteholders in anyjurisdiction in which such offer or solicitation is unlawful. In thosejurisdictions where the securities, blue sky or other laws required the Offer tobe made by a licensed broker or dealer and any of the Dealer Managers was such alicensed broker or dealer in such jurisdictions, the Offer shall be deemed tohave been made on behalf of the Company by that Dealer Manager. United States The Offer was not made, directly or indirectly, in or into, or by use of themails of, or by any means or instrumentality (including, without limitation,facsimile transmission, telex, telephone, email and other forms of electronictransmission) of interstate or foreign commerce of, or any facility of anational securities exchange of, the United States, and the Notes have not beentendered in the Offer by any such use, means, instrumentality or facility fromor within the United States or by persons located or resident in the UnitedStates. Accordingly, copies of this announcement, the Tender Offer Memorandumand any other documents or materials relating to the Offer are not being, andmust not be, directly or indirectly, mailed or otherwise transmitted,distributed or forwarded in or into the United States or to persons located orresident in the United States. Any purported tender of Notes in the Offerresulting directly or indirectly from a violation of these restrictions will beinvalid and tenders of Notes made by a person located in the United States orany agent, fiduciary or other intermediary acting on a non-discretionary basisfor a principal giving instructions from within the United States have not beenaccepted. For the purposes of this paragraph, United States means the UnitedStates of America, its territories and possessions, any state of the UnitedStates of America and the District of Columbia. Italy The Offer was not made in the Republic of Italy (Italy). The Offer, thisannouncement and the Tender Offer Memorandum have not been submitted to theclearance procedure of the Commissione Nazionale per le Societa e la Borsa(CONSOB) pursuant to Italian laws and regulations. Accordingly, Noteholders arenotified that, to the extent Noteholders are resident and/or located in Italy,the Offer was not available to them and they could not tender Notes in the Offerand, as such, any Tender Instructions received from such persons are ineffectiveand void, and none of this announcement, the Tender Offer Memorandum or anyother documents or materials relating to the Offer or the Notes may bedistributed or made available in Italy. The Offer was not made and this announcement and the Tender Offer Memorandum arenot being distributed to the public in the United Kingdom, France or Belgium. Insuch jurisdictions, only the following persons could participate in the Offerand receive this announcement and the Tender Offer Memorandum (as more fully setout in the Tender Offer Memorandum): United Kingdom (investment professionals and persons within Article 43(2) orotherwise of the Financial Services and Markets Act 2000 (Financial Promotion)Order 2005 / France (certain qualified investors and providers of portfoliomanagement investment services) / Belgium (institutional investors). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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