TechnipFMC gives early tender results for 6½% notes due 2026

By Rebecca Melvin

Concord, N.H., Sept. 15 – TechnipFMC plc announced early results of its Aug. 31 tender offer for up to $250 million of its $1 billion outstanding 6½% senior notes due 2026 (Cusip: 87854XAE1), according to a company release on Wednesday.

As of 5 p.m. ET on Sept. 14, $164,113,000 principal amount of the notes had been validly tendered. The notes are being accepted without proration.

The company will pay a total consideration of $1,075 per $1,000 principal amount for notes tendered by the early date, which includes an early premium of $30 per $1,000 note. Holders will also receive accrued interest from Aug. 1 to Sept. 15. The withdrawal deadline was also Sept. 14.

The company also announced it is extending the early tender premium payment to notes validly tendered before expiration of the offer at 11:59 p.m. ET on Sept. 28. The terms are otherwise unchanged.

If the tender cap is exceeded, the company will accept tendered notes on a pro rata basis. Alternatively, the company may increase the maximum tender amount at its sole discretion.

Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) and BofA Securities Inc. (980 388-3646) are the dealer managers.

Global Bondholder Services Corp. (866 470-3700 or 212 430-3774) is the information agent.

TechnipFMC is based in London and specializes in technologies and production systems for subsea, onshore/offshore and surface projects.

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