K+S AG ups acceptance amount, announces tender results

Chicago, June 29 – K+S AG announced the results of its capped tender offer for three series of notes, according to an announcement.

The company has increased the capped amount and decided to accept €560,002,000 of the notes for repurchase, increased from €450 million.

The company received and accepted the following tenders:

• €265.1 million of the €500 million outstanding 2022 notes (ISIN: DE000A1PGZ82) for a purchase price of 103;

• €179,602,000 of the €625 million outstanding 2023 notes (ISIN: XS1591416679) for a purchase price of 102.95; and

• €115.3 million of the €600 million outstanding 2024 notes (ISIN: XS1854830889) for a purchase price of 104.35.

After the notes have been repurchased, there will be €234.9 million of the 2022 notes outstanding, €445,398,000 of the 2023 notes outstanding and €484.7 million of the 2024 notes outstanding.

Interest will also be paid.

The issuer is conducting the tender offer to reduce financial liabilities and optimize the proceeds from the sale of the Americas operating unit.

Tender instructions were due by 10 a.m. ET on June 28.

Settlement is planned for June 30.

Dealer managers for the offer are DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (+49 69 7447 42000, liability-management@dzbank.de), ING Bank NV (+44 20 7767 6784, liability.mangement@ing.com) and Landesbank Baden-Wurttemberg (Bond.Origination@LBBW.de).

Lucid Issuer Services Ltd. is the tender agent (+44 20 7704 0880, kpluss@lucid-is.com).

K+S is a Kassel, Germany-based chemical company.

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