ITV PLC has announced the indicative results of its cash tender offer for its €600,000,000 1.375 per cent. Notes due 26 September 2026. The offer, which was made on the terms and conditions outlined in the tender offer memorandum, saw €316,312,000 in aggregate nominal amount of Notes tendered for purchase by the Offeror. The Offeror expects to set the Final Acceptance Amount at approximately €240,000,000 in aggregate nominal amount of Notes, subject to pro rata scaling at a Scaling Factor of approximately 75.90 per cent.
The pricing for the offer is expected to take place, and the Offeror will announce whether it will accept valid tenders of Notes for purchase, subject to the satisfaction or waiver of the New Issue Condition. The expected Settlement Date for the Offer is 19 June 2024. Barclays Bank PLC and NatWest Markets Plc acted as Dealer Managers for the Offer, while Kroll Issuer Services Limited acted as Tender Agent.
This announcement contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law. For the purposes of UK MAR, this announcement is made by Chris Kennedy, Chief Operating Officer and Chief Finance Officer at the Offeror.