Vodafone announces final results of tender offers for two securities

Chicago, June 2 – Vodafone Group plc released final results from its cash tender offer for its outstanding $1.3 billion 6¼% capital securities due 2078 with a first call date on July 3, 2024 (ISIN: XS1888180640) and €2 billion 3.1% capital securities due 2079 with a first call date on Oct. 3, 2023 (ISIN: XS1888179477) in a notice on Friday.

The company announced a maximum dollar acceptance amount of $324,008,000 on May 25 for only the dollar notes and no cap was in place for the euro securities.

Accordingly, the company is accepting $324,008,000, or 26.1164%, of the $1,054,012,000 tendered securities due 2078 and all €1,561,295,000 of the tendered securities due 2079.

The company was offering a purchase price of 100.5 for the dollar securities and 99.75 for the euro securities, along with accrued interest,

After the offer settles on June 6 there will be $975,992,000 of the securities due 2078 outstanding and €438,705,000 of the securities due 2079 outstanding.

The company earlier announced it priced €750 million and £500 million tranches of hybrid bonds, satisfying a financing condition.

The offer expired at 11 a.m. ET on June 1.

The dealer managers are BNP Paribas (+33 1 55 77 78 94; liability.management@bnpparibas.com), Merrill Lynch International (+44 20 7996 5420; DG.LM-EMEA@bofa.com) and NatWest Markets plc (+44 20 7678 5282; liabilitymanagement@natwestmarkets.com).

The tender agent is Kroll Issuer Services Ltd. (+44 20 7704 0880; vodafone@is.kroll.com; attn.: Owen Morris; https://deals.is.kroll.com/vodafone).

The telecommunications company is based in London.

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