Anglo American gets tenders for €590.77 million of four note series

By Susanna Moon

Chicago, March 15 – Anglo American Capital plc said it will accept tenders for €590,767,000 of four series of notes in the offer that ended at 11 a.m. ET on March 14.

As announced March 7, the issuer was tendering for up to the $1.2 billion euro equivalent of the four note series.

The company accepted all of the tendered notes as follows with pricing set at 8 a.m. ET on March 15, according to a company notice:

• €78,075,000 of the €357,496,000 outstanding (€750 million issued) 2.75% notes due June 7, 2019 with pricing set using a purchase yield of negative 0.2% for a purchase price of 103.605%;

• €66,769,000 of the €205,369,000 outstanding (€600 million issued) 1.5% notes due April 1, 2020 with pricing set using a purchase yield of 0% for a purchase price of 103.053%;

• €73,742,000 of the €354,277,000 outstanding (€600 million issued) 2.875% notes due Nov. 20, 2020 with pricing of 107.598% using the November 2020 interpolated mid-swap rate plus 5 bps for a reference rate of negative 0.018% and a purchase yield of 0.032%; and

• €372,181,000 of the €750 million 2.5% notes due April 29, 2021 with pricing of 107.345 using the April 2021 interpolated mid-swap rate plus 7 bps for a reference rate of 0.065% and a purchase yield of 0.135%.

After settlement on March 19, there will be left outstanding €279,421,000 of the 2.75% notes, €138.6 million of the 1.5% notes, €280,535,000 of the 2.875% notes and €377,819,000 of the 2.5% notes.

The tender offers were being made as part of the company's ongoing proactive capital management, according to a previous announcement.

The company said it reserves the right to determine the allocation of the purchase amount between one or more series of notes.

Banco Bilbao Vizcaya Argentaria, SA (+44 20 7648 7516 or liabilitymanagement@bbva.com), Banco Santander, SA (+44 20 7756 6909/+44 20 7756 6646 or tommaso.grospietro@santandergcb.com/King.Cheung@santandergcb.com), HSBC Bank plc (+44 20 7992 6237 or LM_EMEA@hsbc.com) and SMBC Nikko Capital Markets Ltd. (+44 20 3527 7545 or chatterjee@smbcnikko-cm.com) 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.

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