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Prospect News home > News index > List of issuers P > Headlines for Prosus NV > News item
Published on 7/14/2021 in the Prospect News Emerging Markets Daily, Prospect News Investment Grade Daily and Prospect News Liability Management Daily.

Prosus publishes results of cash tender offer for 2025, 2027 notes

Chicago, July 14 – Prosus NV announced the results of its any-and-all cash tender offer for its $1.2 billion 5½% notes due 2025 (Cusips: 62856RAC9, N5946FAC1) and its $1 billion outstanding 4.85% notes due 2027 (Cusips: 62856RAD7, N5946FAD9), according to a notice on Wednesday.

As of the 5 p.m. ET expiration time on July 13, the company received tenders for $975,251,000 of the 2025 notes and $385,854,000 of the 2027 notes. Prosus will accept all tendered notes for purchase.

There are an additional $508,000 of 2025 notes and $2,347,000 of 2027 notes that have been tendered via guaranteed delivery procedures.

As reported Tuesday, the company will pay $1,159.12 per $1,000 note using a fixed spread of 35 basis points over the 0.875% U.S. Treasury due June 30, 2026. The par call date for the notes is April 21, 2025.

Also announced on Tuesday, the 2027 notes priced at $1,161.10 per $1,000 note using a fixed spread of 105 bps over the same 0.875% U.S. Treasury due June 30, 2026. The par call date for the series is April 6, 2027.

Interest will also be paid to the settlement date.

The guaranteed delivery deadline is 5 p.m. ET on July 15.

Settlement is expected for July 15. Settlement for tenders delivered via guaranteed delivery is planned for July 16.

BofA Securities Europe SA (+33 1 877 01057, 888 292-0070, 980 387-3907, DG.LM-EMEA@bofa.com) and Citigroup Global Markets Ltd. (+44 20 798 68969, 800 558-3745, 212 723-6106, liabilitymanagement.europe@citi.com) are the dealer managers.

D.F. King & Co., Inc is the information and tender agent for the offer (800 347-4750, 212 269-5550, +44 20 7920 9700, prosus@dfking.com, https://sites.dfkingltd.com/prosus).

Amsterdam-based Prosus is the international internet assets division of Cape Town, South Africa-based Naspers Ltd.


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