Elia Group launches cash tender offer for subordinated securities

Chicago, March 7 – Elia Group SA/NV started a cash tender offer for up to €500 million of its €700 million outstanding fixed-rate reset undated subordinated securities (ISIN: BE0002597756) with a first call date of Sept. 5, 2023, according to an announcement.

The company is offering to buy the securities at par. Accrued interest will also be paid.

Elia is concurrently offering €500 million of new subordinated securities. The tender offer is conditioned on the new securities successfully being issued.

Tendering holders may be given preference regarding allocation of the new securities.

Tender instructions are due by 11 a.m. ET on March 14.

Settlement is planned for March 17.

BNP Paribas (+33 1 55 77 78 94; liability.management@bnpparibas.com) Citigroup Global Markets Ltd. (+44 20 7986 8969; liabilitymanagement.europe@citi.com) and NatWest Markets NV (+31 2 04 64 27 55; liabilitymanagement@natwestmarkets.com) are the dealer managers.

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, elia@is.kroll.com, https://deals.is.kroll.com/elia).

Furthermore, the company is contemplating, but is not yet committed, to a redemption of the remaining securities when the issuer’s call option is applicable, from Sept. 5, 2023 to Dec. 5, 2023.

Elia an electricity transmission provider based in Brussels.

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