Anglo American launches tender offers for euro notes due 2021, 2022

By Sarah Lizee

Olympia, Wash., Sept. 8 – Anglo American Capital plc launched capped cash tender offers for its €377,819,000 2.5% guaranteed notes due April 29, 2021 (ISIN: XS0923361827) and its €750 million 3.5% guaranteed notes due March 28, 2022, according to a London Stock Exchange notice.

The offers will expire at 11 a.m. ET on Sept. 15.

Pricing for each series will be set using a fixed purchase yield of negative 0.3%.

Assuming a settlement date of Sept. 18, the purchase prices will be 101.716 for the 2021 notes and 105.812 for the 2022 notes.

The company announced its intention to issue dollar benchmark-sized notes. The tender offers are subject to the successful completion of the new issue.

Noteholders who wish to subscribe for new notes in addition to tendering existing notes may receive priority in the allocation of the new issue.

The company is proposing to accept tenders for purchase so that the total amount payable by the company, including interest, is a cash amount of no greater than the euro equivalent of the cash amount in net proceeds of the new issue less the euro equivalent of the company’s separate tender total amount payable by the company for all the $600 million 4.125% senior notes due 2022 accepted for purchase.

The euro tender offers and the separate tender for the dollar notes were announced on Sept. 8.

The joint dealer managers are Banco Santander, SA (+44 20 7756 6909, +44 20 7756 6227, tommaso.grospietro@santandercib.co.uk, adam.crocker@santandercib.co.uk), BNP Paribas (+33 1 55 77 78 94, liability.management@bnpparibas.com), Morgan Stanley & Co International plc (+44 20 7677 5040, liabilitymanagementeurope@morganstanley.com) and UniCredit Bank AG (+ 49 89 378 18825, corporate.lm@unicredit.de).

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

Anglo American Capital is a London-based entity of Johannesburg, South Africa, mining company Anglo American plc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.