Urenco begins one-week tender for €150 million of 4% notes due 2017

By Susanna Moon

Chicago, July 27 – Urenco Finance NV said it began a tender offer for up to €150 million of its €500 million 4% notes due 2017.

Pricing for the offer will be set at 7 a.m. ET on Aug. 4 by using the purchase yield of a purchase spread of zero basis points and the interpolated mid-swap rate, according to a company notice.

The company said it intends to issue new euro-denominated fixed-rate notes, with the tender offer conditioned on completion of the financing.

Tender instructions must be received by 10 a.m. ET on Aug. 3, with the minimum nominal amount at least €50,000 and in integral amounts of €50,000 after that.

Settlement has been set for Aug. 5.

The dealer managers are BNP Paribas (+44 20 7595 8668 or liability.management@bnpparibas.com) and HSBC Bank plc (+44 20 7992 6237 or liability.management@hsbcib.com).

The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, Victor Parzyjagla, or urenco@lucid-is.com).

The company said it is seeking to redeem some of the notes prior to maturity as part of the management of its debt maturity profile.

Urenco is an enrichment services provider to the nuclear industry and is based in Buckinghamshire, England.

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