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Anglo American to accept tenders for 453.67 million 2.5%, 3.5% notes
By Sarah Lizee
Olympia, Wash., Sept. 16 Anglo American Capital plc announced the pricing and results of its 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 expired at 11 a.m. ET on Sept. 15.
Pricing for the 2021 notes was set at 101.716, and pricing for the 2022 notes was set at 105.812. Holders will also receive accrued interest.
The company received tenders for 137,013,000 of the 2021 notes and 316,659,000 of the 2022 notes, all of which are being accepted for purchase, subject to the financing condition.
Following settlement on Sept. 18, 240,806,000 of the 2021 notes and 433,341,000 of the 2022 notes will remain outstanding.
The company announced its intention to issue dollar benchmark-sized notes.
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 proposed 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 companys 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.
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