Travis Perkins begins tender offer for up to £120 million of 4½% notes

Chicago, April 5 – Travis Perkins plc started a tender offer for an up to £120 million purchase price for its £300 million outstanding 4½% guaranteed notes due 2023 (ISIN: XS1407695680), according to a notice.

Pricing will be calculated using the 2.25% U.K. Treasury due Sept. 7, 2023 plus 145 basis points. Interest will also be paid.

Pricing will take place at 6 a.m. ET on April 13.

The company is conducting the offer to proactively manage its debt profile and provide liquidity for investors in the notes.

Tenders may be subject to proration.

Tender instructions are due by 11 a.m. ET on April 12. Instructions are irrevocable.

Settlement is planned for April 14.

MUFG Securities EMEA plc (+44 20 7577 2766, liability.management@mufgsecurities.com) and NatWest Markets plc (+44 20 7678 5222, NWMLiabilityManagement@natwestmarkets.com) are the dealer managers.

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, travisperkins@is.kroll.com).

Travis Perkins is a Northampton, U.K.-based building products supplier.

© 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.