Result of Tender Offer
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO ANY U.S. PERSON (AS DEFINED BELOW) OR IN OR INTO THE UNITED STATES (AS DEFINED BELOW). OTHER RESTRICIONS (AS SET OUT IN TENDER OFFER MEMORANDUM) APPLY.
THIS COMPANY ANNOUNCEMENT AND THE RELATED MATERIALS DO NOT CONSTITUTE OR FORM A PART OF ANY OFFER OR SOLICITATION TO TENDER, PURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES. THE SECURITIES MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). THE SECURITIES MAY NOT BE TENDERED, OFFERED OR SOLD IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, US PERSONS (AS SUCH TERM IS DEFINED IN REGULATION S UNDER THE SECURITIES ACT) EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THERE WILL BE NO TENDER OFFER OR PUBLIC OFFER OF SECURITIES IN THE UNITED STATES.
DONG Energy A/S (the “DONG Energy”) hereby announces the results of the invitation to holders of the EUR 700,000,000 Callable Subordinated Capital Securities due 3010 (ISIN: XS0560190901) (the “Securityholders” and “Securities”, respectively) to tender any and all of their Securities for purchase by DONG Energy for cash (the “Tender Offer”). Only Securityholders who (i) submitted no more than EUR 250,000 in aggregate nominal amount of the Securities for purchase by DONG Energy for cash and (ii) are located outside of the United States were eligible to participate in the Tender Offer.
The Tender Offer was announced on 20 June 2013 and was made on the terms and conditions contained in the tender offer memorandum dated 20 June 2013 (the “Tender Offer Memorandum”). Capitalised terms used in this announcement but not defined herein have the meanings given to them in the Tender Offer Memorandum.
The Expiration Deadline for the Tender Offer was 4.00 p.m. (London time) on 10 July 2013.
As at the Expiration Deadline, EUR 61.3 million in aggregate nominal amount of the Securities had been validly tendered. DONG Energy has decided to accept for purchase all Securities validly tendered in the Tender Offer in full.
The cash purchase price will be EUR 1,040 for each EUR 1,000 of nominal amount of Securities accepted for purchase by DONG Energy and DONG Energy will also pay an Accrued Interest Payment in respect of such Securities.
The Settlement Date in respect of the Securities accepted for purchase is expected to be 12 July 2013. Following settlement, EUR 29.1 in aggregate principal amount of the Securities will remain outstanding. DONG Energy intends to exercise the Ratings Event Call at 101% of the principal amount of the Securities, plus accrued interest, in respect of the remaining outstanding Securities pursuant to condition 6(e) of the Securities.
Further details about the Tender Offer can be found in the Tender Offer Memorandum and the tender offer launch announcement via the following link: http://www.dongenergy.com/en/3010hybridcapital
The information provided in this announcement does not change DONG Energy’s previous financial guidance for 2013 or the announced expected investment level for 2013-2014.
For further information, please contact:
Karsten Anker Petersen
+45 9955 9662
Allan Bødskov Andersen
+45 9955 9769
OFFER AND DISTRIBUTION RESTRICTIONS
The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Company, the Lead Dealer Manager and the Tender Agent to inform themselves about, and to observe, any such restrictions. Neither this announcement nor the Tender Offer Memorandum constitutes an offer to buy or a solicitation of an offer to sell the Securities (and tenders of Securities in the Offer will not be accepted from Eligible Retail Securityholders) in any circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities, blue sky or other laws require the Offer to be made by a licensed broker or dealer and any Lead Dealer Manager or any of its affiliates is such a licensed broker or dealer in any such jurisdiction, the Offer shall be deemed to be made by the Lead Dealer Manager or such affiliate, as the case may be, on behalf of the Company in such jurisdiction.
United States. The Offer is not being made, and will not be made, directly or indirectly in or into, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of or of any facilities of a national securities exchange of, the United States or to any U.S. Person (as defined in Regulation S of the United States Securities Act of 1933, as amended (each a "U.S. Person")). This includes, but is not limited to, facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic communication. The Securities may not be tendered in the Offer by any such use, means, instrumentality or facility from or within the United States or by persons located or resident in the United States or by, or by any person acting for the account or benefit of, a U.S. Person. Accordingly, copies of this Tender Offer Memorandum and any other documents or materials relating to the Offer are not being, and must not be, directly or indirectly mailed or otherwise transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into the United States or to any persons located or resident in the United States or to any U.S. Person. Any purported tender of Securities in the Offer resulting directly or indirectly from a violation of these restrictions will be invalid and any purported tender of Securities made by, or by any person acting for the account or benefit of, a U.S. Person or by a person located in the United States or any agent, fiduciary or other intermediary acting on a nondiscretionary basis for a principal giving instructions from within the United States will be invalid and will not be accepted.
Each holder of Securities participating in the Offer will represent that it is not a U.S. Person, it is not located in the United States and it is not participating in the Offer from the United States, or it is acting on a non-discretionary basis for a principal located outside the United States that is not giving an order to participate in the Offer from the United States and is not a U.S. Person. For the purposes of this company announcement, United States means the United States of America, its territories and possessions (including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands), any state of the United States of America and the District of Columbia.