Urenco launches tender offer for €500 million 2.375% notes due 2024

By Marisa Wong

Los Angeles, March 24 – Urenco Finance NV is inviting holders of its €500 million 2.375% notes due Dec. 2, 2024 (ISIN: XS1145750037) to tender any and all of the notes for purchase for cash, according to a notice.

The purchase price will be calculated using the interpolated mid-swap rate and purchase spread of negative 5 basis points.

The company will also pay accrued interest.

The offer expires at 11 a.m. ET on March 30.

Pricing will be determined at 6 a.m. ET on March 31. Final results will be announced on the same day, after the pricing time.

Settlement is expected to take place on April 4.

The dealer managers for the offer are BNP Paribas (+33 1 55 77 78 94; liability.management@bnpparibas.com) and MUFG Securities (Europe) NV (+33 1 70 91 42 55; liability.management@mufgsecurities.com).

The tender agent is Kroll Issuer Services Ltd. (+44 20 7704 0880; attn.: Harry Ringrose; urenco@is.kroll.com; https://deals.is.kroll.com/urenco).

Based in Stoke Poges, England, Urenco is a British-German-Dutch nuclear fuel consortium operating several uranium enrichment plants in Germany, the Netherlands, United States and United Kingdom.

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