| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2023 > News item |
Urenco extends tender offer for 2024 notes, adds €150 million cap
By Marisa Wong
Los Angeles, March 31 – Urenco Finance NV announced a reopening, extension and amendment of its March 24 invitation to holders of its €500 million 2.375% notes due Dec. 2, 2024 (ISIN: XS1145750037) to tender any and all of the notes for purchase for cash, according to a notice on Friday.
The company has decided to extend the expiration of the offer to 11 a.m. ET on April 5.
As a result, the pricing date and settlement date have also been pushed back to 6 a.m. ET on April 6 and April 12, respectively.
In addition, the company has decided to change the tender offer from an any-and-all offer to a capped offer. The target acceptance amount is now €150 million. However, the company may decide to accept significantly more or significantly less than that amount.
Tenders may be subject to proration.
The purchase price will still be calculated using the interpolated mid-swap rate and purchase spread of negative 5 basis points.
The company will also pay accrued interest.
As of 5 p.m. ET on March 30, the original expiration deadline, holders had tendered €318,066,000 of the notes.
The dealer managers for the offer are BNP Paribas (+33 1 55 77 78 94; liability.management@bnpparibas.com) and MUFG Securities (Europe) NV (+33 1 70 91 42 55; liability.management@mufgsecurities.com).
The tender agent is Kroll Issuer Services Ltd. (+44 20 7704 0880; attn.: Harry Ringrose; urenco@is.kroll.com; https://deals.is.kroll.com/urenco).
Based in Stoke Poges, U.K., Urenco is a British-German-Dutch nuclear fuel consortium operating several uranium enrichment plants in Germany, the Netherlands, United States and United Kingdom.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.