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Ansaldo Energia launches tender offer for up to €220 million 2024 notes
By Marisa Wong
Los Angeles, June 21 – Ansaldo Energia SpA has begun an offer to purchase for cash up to €220 million of its €350 million outstanding 2¾% notes due May 31, 2024 (ISIN: XS1624210933), according to a notice.
The company is offering to purchase the notes at 98.625, plus accrued interest.
Tenders may be subject to proration.
The company said that prior to the start of the tender offer, it had approached a significant noteholder to gauge the holder’s interest in tendering notes under a tender offer. The significant holder holds about €40 million, or 11.4%, of the outstanding notes. The significant holder has indicated that it expects to tender its notes under the offer.
Tenders are due by 11 a.m. ET on July 4.
Results will be announced on July 5.
Settlement is slated for July 7.
BNP Paribas (+33 1 55 77 78 94; liability.management@bnpparibas.com), Intesa Sanpaolo SpA (+39 02 7261 4755/7145; IMI-liability.management@intesasanpaolo.com) and UniCredit Bank AG (+39 02 8862 0581, +49 8937 81 8825; agdccorig.uc@unicredit.eu; corporate.lm@unicredit.eu) are dealer managers for the offer.
Kroll Issuer Services Ltd. (+44 20 7704 0880; ansaldoenergia@is.kroll.com; attn.: Owen Morris; https://deals.is.kroll.com/ansaldoenergia) is the tender agent.
The power engineering company is based in Genoa, Italy.
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