Vodafone gives final results on tender offers for 10 series of notes

By Taylor Fox

New York, March 29 – Vodafone Group plc announced the final results for its 10 concurrent but separate tender offers to purchase for cash any and all of 10 series of outstanding notes for an aggregate purchase price of up to €4 billion, according to a 6-K filing with the Securities and Exchange Commission.

The notes tendered, by acceptance priority level, are as follows:

• $1,229,676,000 of the $2 billion 3.75% notes due January 2024 (Cusip: 92857WBH2) to be purchased at a price of $1,087.07 per $1,000 of notes, based on the 0.25% U.S. Treasury due March 15, 2024 and a fixed spread of 30 basis points;

• €370,889,000 of the €1.25 billion 1.75% notes due August 2023 (ISIN: XS1372838679) to be purchased at a price of €1,050.83 per €1,000 of notes, based on a purchase yield of negative 0.35%;

• €182,563,000 of the €1.25 billion 4.65% notes due January 2022 (ISIN: XS0479869744) to be purchased at a price of €1,041.54 per €1,000 of notes, based on a purchase yield of negative 0.45%;

• $511,016,000 of the $1 billion floating-rate notes due January 2024 (Cusip: 92857WBN9) to be purchased at a fixed price of $1,022 per $1,000 of notes;

• €90,384,000 of the €500 million 5.375% notes due June 2022 (ISIN: XS0304458051) to be purchased at a price of €1,069.46 per €1,000 of notes, based on a purchase yield of negative 0.45%;

• €218,782,000 of the €750 million 0.5% notes due January 2024 (ISIN: XS1499604905) to be purchased at a price of €1,021.39 per €1,000 of notes, based on a purchase yield of negative 0.25%;

• €524.76 million of the €1 billion 0.375% notes due November 2021 (ISIN: XS1574681620) to be purchased at a price of €1,005.38 per €1,000 of notes, based on a purchase yield of negative 0.45%;

• €145,557,000 of the €751,639,000 million 1.25% notes due August 2021 (ISIN: XS1372838240) to be purchased at a price of €1,006.92 per €1,000 of notes, based on a purchase yield of negative 0.45%;

• $274,485,000 of the $895,519,000 2.95% notes due February 2023 (Cusip: 92857WBC3) to be purchased at a price of $1,050.05 per $1,000 of notes, based on the 0.125% U.S. Treasury due Feb. 28, 2023 and a fixed spread of 15 bps; and

• $128.48 million of the $597,245,000 2.5% notes due September 2022 (Cusip: 92857WAZ3) to be purchased at a price of $1,032.86 per $1,000 of notes, based on the 0.125% U.S. Treasury due Feb. 28, 2023 and a fixed spread of 15 bps.

Vodafone accepted the full amount tendered under each series of notes.

The company will also pay interest on the notes. Accrued interest is not included in the €4 billion cap.

The settlement date is expected to be March 30.

The settlement date for notes tendered through guaranteed delivery will be March 31.

HSBC Bank plc (888 472-2456, 212 525-5552, +44 20 7992 6237; liabilitymanagement@hsbc.com), Merrill Lynch International (888 292-0070, 980 387-3907, +44 20 7996 5420; dg.lm-emea@bofa.com), MUFG Securities EMEA plc (877 744-4532, 212 405-7481, +44 20 7577 4218; dcm-lm@int.sc.mufg.jp), NatWest Markets plc (866 884-2071, 203 897-6166, +44 20 7678 5222; liabilitymanagement@natwestmarkets.com) and RBC Capital Markets LLC/RBC Europe Ltd. (877 381-2099, 212 618-7843, +44 20 7029 7063; liability.management@rbccm.com) are the dealer managers.

D.F. King Ltd. (+44 20 7920 9700, 212 269-5550, 877 732-3614; vodafone@dfkingltd.com) is the information and tender agent.

Vodafone is a telecommunications company based in London.

© 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.