Naturgy offers to buy capped amount of subordinated securities

Chicago, Nov. 15 – Naturgy Finance BV launched a tender offer for a capped amount of its €1 billion undated eight-year non-call deeply subordinated guaranteed fixed-rate securities (ISIN: XS1139494493), according to a press release.

The securities are guaranteed on a subordinated basis by Naturgy Energy Group, SA.

The maximum purchase amount will be announced after the company prices new securities. The offer is subject to the successful offering of the new securities.

Priority allocation for the new securities may be given to tendering noteholders.

Pricing for the consideration will use a negative 0.15% purchase yield.

Accrued interest will be paid to the settlement date, expected to be Nov. 24.

The offer period expires at 11 a.m. ET on Nov. 22.

The acceptance date is Nov. 23.

Joint dealer managers for the offer are CaixaBank, SA (+34 91 700 56 09/10, lst.caixabank.lm@caixabank.com), J.P. Morgan AG (+44 20 7134 2468, liability_management_EMEA@jpmogran.com), Morgan Stanley Europe SE (+44 20 7677 5040, liabilitymanagementeurope@morganstanley.com) and Societe Generale (+33 1 42 13 32 40, liability.management@sgcib.com).

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

Naturgy issues preference shares and other financial debt instruments, with the guarantee of Gas Natural SDG. The company is based in Barcelona.

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