Vodafone Group Plc has announced the pricing of its capped tender offers for certain U.S. dollar and euro-denominated notes due 2028 to 2031. The offers to purchase the outstanding notes are subject to the terms and conditions set forth in the offer to purchase dated July 29, 2024, including the financing condition. The total consideration and late tender offer consideration for the notes have been specified in detail.
The offers are divided into three pools, each subject to a maximum tender amount and acceptance priority levels. The results of the offers at the early tender time were announced on August 12, 2024. It was noted that the aggregate principal amount of Pool 2 Notes and Pool 3 Notes validly tendered and not validly withdrawn at or prior to the early tender time exceeded the applicable pool maximum tender amount. As a result, Pool 2 Notes and Pool 3 Notes will be accepted by the company in accordance with the applicable pool maximum tender amount and, where applicable, the acceptance priority levels.
The announcement provides a comprehensive breakdown of the notes, including their titles, CUSIP/ISIN/CommonCode, principal amount outstanding, reference security, Bloomberg reference page/screen, reference yield, fixed spread, acceptance priority level, total consideration, and late tender offer consideration. The terms and conditions of specific notes, such as the optional call at par for the March 2029 Notes, are also detailed.
The pricing source for the information provided is BGN, and the total consideration and late tender offer consideration for each series of the notes were calculated at or around 10:00 a.m., New York City time, on the specified date. The announcement also outlines the early tender time and the expiration date for the offers, as well as the conditions for tendering and acceptance of the notes.
Overall, the announcement from Vodafone Group Plc provides a detailed overview of the capped tender offers, including specific details for each series of notes and the results of the offers at the early tender time.