THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, OR AT ANY ADDRESS IN, THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE UNITED STATES) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT)) OR IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.
HAMMERSON PLC ANNOUNCES
INDICATIVE RESULTS OF TENDER OFFERS IN RESPECT OF ITS
€500,000,000 2.000 PER CENT. BONDS DUE 2022 (THE 2022 BONDS)
AND
€500,000,000 1.750 PER CENT. BONDS DUE 2023 (THE 2023 BONDS)
1 June 2021.
Hammerson plc (the Company) announces today the indicative results of its separate invitations to holders of its (a) €500,000,000 2.000 per cent. Bonds due 2022 (ISIN: XS1081656180) (the 2022 Bonds) and (b) €500,000,000 1.750 per cent. Bonds due 2023 (ISIN: XS1379158550) (the 2023 Bonds and, together with the 2022 Bonds, the Bonds and each a Series) to tender their Bonds for purchase by the Company for cash (each such invitation an Offer and together the Offers).
The Offers were announced on 20 May 2021 and were made on the terms and subject to the conditions contained in the tender offer memorandum dated 20 May 2021 (the Tender Offer Memorandum). The Company also announced the 2023 Bonds Maximum Acceptance Amount on 27 May 2021.
Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.
The Expiration Deadline for the Offers was 4.00 p.m. (London time) on 28 May 2021.
Expected Series Final Acceptance Amounts
As at the Expiration Deadline, the Company had received valid tenders for purchase pursuant to the Offers of (i) €310,315,000 in aggregate nominal amount of 2022 Bonds and (ii) €264,493,000 in aggregate nominal amount of 2023 Bonds.
If the Company decides to accept Bonds validly tendered pursuant to the Offers, the Company expects that each Series Final Acceptance Amount will be set as follows:
Series Expected Series Final Acceptance Amount Expected Scaling Factor
2022 Bonds €310,315,000 N/A
2023 Bonds €264,493,000 N/A
Bondholders should note that this is a non-binding indication of the level at which the Company expects to set each Series Final Acceptance Amount.
Pricing for the Offers will take place at or around 2.00 p.m. (London time) today (the Pricing Time). As soon as reasonably practicable after the Pricing Time, the Company will announce whether it will accept valid tenders of Bonds pursuant to either or both Offers and, if so accepted, each Series Final Acceptance Amount, each Purchase Yield, the 2022 Bonds Interpolated Mid-Swap Rate and each Purchase Price, as applicable.
The Settlement Date in respect of the Bonds accepted for purchase pursuant to the Offers is expected to be 3 June 2021.
Barclays Bank PLC (Telephone: +44 (0) 20 3134 8515, Attention: Liability Management Group, Email: eu.lm@barclays.com), BNP Paribas (Telephone: +33 1 55 77 78 94, Attention: Liability Management Group, Email: liability.management@bnpparibas.com), J.P. Morgan Securities plc (Telephone: +44 20 7134 2468 Attention: Liability Management, Email: liability_management_EMEA@jpmorgan.com) and MUFG Securities EMEA plc (Telephone: +44 20 7577 4218, Attention: Liability Management Group, Email: liability.management@mufgsecurities.com) are acting as Dealer Managers for the Offers.
Lucid Issuer Services Limited (Telephone: +44 20 7704 0880, Attention: Mu-yen Lo / Harry Ringrose, Email: hammerson@lucid-is.com) is acting as Tender Agent.
DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire any securities is being made pursuant to this announcement. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Company, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.
The announcement above has also been released on the SENS system of the Johannesburg Stock Exchange and Euronext Dublin.
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