Prosus prices any-and-all cash tender offer for 2025, 2027 notes

By William Gullotti

Buffalo, N.Y., July 13 – Prosus NV announced pricing for the any-and-all cash tender offer for its $1.2 billion 5½% notes due 2025 (Cusips: 62856RAC9, N5946FAC1) and its $1 billion outstanding 4.85% notes due 2027 (Cusips: 62856RAD7, N5946FAD9), according to a notice.

The 2025 notes are priced at $1,159.12 per $1,000 note using a fixed spread of 35 basis points over the 0.875% U.S. Treasury due June 30, 2026. The par call date for the notes is April 21, 2025.

The 2027 notes are priced at $1,161.10 per $1,000 note using a fixed spread of 105 bps over the same 0.875% U.S. Treasury due June 30, 2026. The par call date for the series is April 6, 2027.

Interest will also be paid to the settlement date.

The offer expires at 5 p.m. ET on July 13, also the withdrawal deadline.

Results will be announced on July 14.

The guaranteed delivery deadline is 5 p.m. ET on July 15.

Settlement is expected for July 15. Settlement for tenders delivered via guaranteed delivery is planned for July 16.

BofA Securities Europe SA (+33 1 877 01057, 888 292-0070, 980 387-3907, DG.LM-EMEA@bofa.com) and Citigroup Global Markets Ltd. (+44 20 798 68969, 800 558-3745, 212 723-6106, liabilitymanagement.europe@citi.com) are the dealer managers.

D.F. King & Co., Inc is the information and tender agent for the offer (800 347-4750, 212 269-5550, +44 20 7920 9700, prosus@dfking.com, https://sites.dfkingltd.com/prosus).

Amsterdam-based Prosus is the international internet assets division of Cape Town, South Africa-based Naspers Ltd.

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