Conditional Redemption of Senior Notes

RNS Number : 4601P

Melrose PLC

24 October 2012

 



24 October 2012

MELROSE PLC

ELSTER ANNOUNCES CONDITIONAL REDEMPTION OF ITS €250 MILLION 6.25% SENIOR NOTES DUE 2018

Melrose PLC's subsidiary, Elster Group SE ("Elster") today announced that it has given notice of its intention to redeem in full (the "Redemption") €250 million in aggregate principal amount of its 6.25% Senior Notes due 2018 (the "Notes") (Regulation S Notes: Common Code 061702750, ISIN XS0617027502, Rule 144A Notes: Common Code 061702784, ISIN XS0617027841), at the applicable makewhole price pursuant to the Indenture dated 21 April 2011 (the "Indenture"), plus accrued and unpaid interest. The Redemption will be conditional upon the admission of the Ordinary Shares of New Melrose PLC (company number 8243706; to be renamed "Melrose PLC") to listing on the premium segment of the Official List maintained by the United Kingdom Listing Authority and to trading on the main market of the London Stock Exchange (the "Condition").  At the time of such admission New Melrose PLC will be the ultimate holding company of the Company. 

The Redemption may be revoked if the Condition is not satisfied. The Redemption is being made pursuant to the makewhole redemption provisions of the Indenture and the applicable redemption price will be payable on 28 November 2012, if the Condition is satisfied.

The paying agent for the Notes is Deutsche Bank AG, London Branch.

This announcement is for information purposes only and is neither an offer to purchase nor a solicitation of an offer to buy, sell, issue or subscribe securities. 

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Enquiries:

M:Communications
Financial PR
Nick Miles/Ann-marie Wilkinson/Andrew Benbow	[phone]

 

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