Anglo American wraps any-and-all, capped tenders for four series

By Susanna Moon

Chicago, Sept. 21 – Anglo American Capital plc announced the results of its tender for any and all of its €600 million 1½% notes due April 1, 2020 and capped offers for three more note series.

The tender offers ended at 11 a.m. ET on Sept. 20, with settlement set for Sept. 25.

Anglo American will accept for purchase all of the tendered notes with no pro rata scaling, according to a company notice on Thursday.

The tender results are as follows with pricing scheduled for 8 a.m. ET on Sept. 21:

• €394,631,000 of the 1½% notes with pricing to be set using the April 2020 interpolated mid-swap rate plus 15 basis points;

• €88,948,000 of the original €750 million (€248.78 million outstanding) 2½% notes due Sept. 18, 2018 with pricing to be set using a fixed purchase yield of negative 0.15% for a price of 102.603 assuming a settlement date of Sept. 25;

• €216,508,000 of the original €750 million (€574,004,000 outstanding) 2¾% notes due June 7, 2019 with pricing to be set using a fixed purchase yield of negative 0.10% for a price of 104.848 assuming a settlement date of Sept. 25; and

• €245,723,000 of the original €600 million 2 7/8% notes due Nov. 20, 2020 with pricing to be set using the November 2020 interpolated mid-swap rate plus 20 bps.

As announced Sept. 13, the issuer had been tendering for a capped amount of three other series of notes equal to the euro equivalent of $750 million excluding accrued interest.

The company previously reserved the right to determine the allocation of the capped spending amount between one or more note series.

Commerzbank AG (+49 69 136 59920 or liability.management@commerzbank.com), Credit Agricole CIB (+44 20 7214 5733 or liability.management@ca-cib.com), MUFG Securities EMEA plc (+44 20 7577 4048/+44 20 7577 4218 or DCM-LM@int.sc.mufg.jp) and UniCredit Bank AG (+49 89 378 13722 or corporate.lm@unicredit.de) are the joint dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880 or angloamerican@lucid-is.com) is the tender agent.

Anglo American is a subsidiary of London-based mining company Anglo American plc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.