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LONDON - Vodafone Group (LON:VOD) Plc announced on Wednesday the final results of its cash tender offers for certain U.S. dollar and sterling denominated notes, with the company purchasing approximately €2.5 billion equivalent of debt securities.
The telecommunications company accepted all notes validly tendered after the early tender deadline and before the July 29 expiration date, representing an incremental principal amount of approximately €45.06 million equivalent.
Vodafone (NASDAQ:VOD) had previously increased the maximum tender amount from €2 billion to €2.5 billion equivalent. The tender offers targeted seven series of notes with maturities ranging from 2043 to 2059.
The final settlement for notes tendered after the early tender deadline is expected to occur on Thursday, July 31. Holders who tendered during this period will receive the total consideration, which includes the early tender premium, plus accrued interest.
According to the company, the largest acceptance was for the USD 4.25% Notes due 2050, with a total accepted amount of $673.67 million. Other significant acceptances included £685.36 million of GBP 3.00% Notes due 2056 and $567.9 million of USD 4.875% Notes due 2049.
The purchase prices for dollar and sterling notes will be paid in their respective currencies. To determine whether the maximum tender amount was reached, the company converted the aggregate purchase prices into euros using exchange rates of $1: €0.8573 and £1: €1.1510.
All notes purchased in the tender offers will be cancelled and retired by Vodafone. The company had previously settled payments for notes tendered before the early tender deadline on July 17.
This announcement is based on a press release statement from Vodafone Group Plc.
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