TechnipFMC doubles cap on tender offer and announces results

Chicago, Dec. 2 – TechnipFMC plc upsized the cap on its tender offer for four securities and announced the results, according to a press release.

The company is now offering to buy $200 million of the notes, increased from an initial offer for $100 million principal amount of the notes.

However, there were more than $200 million of notes tendered from the first of the four series. As a result, the company will only accept notes from the first series on a prorated basis and will not accept any notes from the other three series.

Listed in acceptance priority order, the company was offering to buy from the following four series:

• For the $833.08 million outstanding 6½% senior notes due Feb. 1, 2026 (Cusips: 87854XAE1, G87110AC9) the company was offering $1,085 per $1,000 notes including an early tender premium of $30;

• For the €200 million outstanding 5¾% notes due June 30, 2025 (ISIN: XS2197326437) the company was offering €1,105 per €1,000 note, including a €30 early tender premium, with a $50 million subcap on the series;

• For the €130 million outstanding 3.15% notes due Oct. 16, 2023 (ISIN: FR0011574540) the company was offering €1,051.25 per note; and

• For the €125 million outstanding 3.15% notes due Oct. 18, 2023 (ISIN: FR0011593300) the company was also offering €1,051.25.

Interest will also be paid to the applicable settlement date.

Funding for the offer will come from cash on hand.

For the first two series, the 2025 and 2026 notes, the tender offer technically expires at 11:59 p.m. ET on Dec. 16.

The early tender time to receive the full consideration for those two series was 5 p.m. ET on Dec. 2, also the withdrawal deadline.

The offer expired at 11 a.m. ET on Dec. 2 for the two 2023 notes.

Early settlement is planned for Dec. 6.

Payment for notes tendered after the early tender time will be made promptly after the expiration time.

BofA Securities, Inc. (980 387-5602, +44 20 7996 5420, debt_advisory@bofa.com, DG.LM-EMEA@bofa.com) and Citigroup Global Markets, Inc. (800 558-3745, 212 723-6106) are the dealer managers.

Global Bondholder Services Corp. (contact@gbsc-usa.com) is the information agent.

The French tender agent for the tender offer is Societe Generale Securities Services.

TechnipFMC is based in London and specializes in technologies and production systems for subsea, onshore/offshore and surface projects.

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