NEW YORK - LSEGA Financing plc, backed by the London Stock Exchange Group (LON:LSEG) plc, has established the pricing for its tender offer concerning $1.25 billion of its 2.500% notes due in 2031. The offer, detailed in a November 14, 2024, document, reached its early tender deadline on Monday, with the pricing set earlier today.
The tender offer was determined using a fixed spread of 50 basis points over the reference yield of a 4.250% U.S. Treasury due November 15, 2034, which stood at 4.197%. Consequently, the early tender offer consideration was set at $880.68 per $1,000 of principal amount, inclusive of an early tender premium of $50 per $1,000. The standard tender offer consideration was set at $830.68 per $1,000 of principal amount.
Due to the offer being oversubscribed by the early tender deadline, no additional notes tendered after this point will be accepted for purchase. The offeror plans to accept notes on a prorated basis and intends to purchase all of a note holder's tendered notes if proration would result in a principal amount less than the minimum denomination being returned.
The deadline for withdrawing tendered notes has passed, and the settlement date for the accepted notes is expected to be December 3, 2024. Noteholders whose notes are accepted will also receive accrued interest from the last interest payment date preceding the early settlement date.
This tender offer is part of the company's liability management strategy and is not available to the general public. It was orchestrated with BNP PARIBAS and Merrill Lynch International acting as dealer managers, and Global Bondholder Services Corporation serving as the information and depositary agent.
The offeror has advised note holders to carefully review the offer to purchase document for detailed information and instructions on the tender process.
The information in this article is based on a press release statement and is intended for informational purposes only. It does not constitute an offer to purchase or a solicitation of an offer to sell any securities.
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