Redemption of GBP 250m 6.875% Bonds due 2020
Hammerson plc
13 September 2017
Hammerson plc announces exercise of early redemption option in respect of GBP 250,000,000 6.875% Bonds due 2020
If you are in doubt about any aspect of this announcement and/or the action you should take, you should consult immediately your stockbroker, bank manager, solicitor, accountant or other professional advisor authorised under the Financial Services and Markets Act 2000 (if you are in the United Kingdom) or another appropriately authorised independent financial adviser.
Hammerson plc (the Company) announces the exercise of the Company's early redemption option in respect of the GBP 250,000,000 6.875% Bonds due 2020 of which GBP 250,000,000 is currently outstanding (ISIN: XS0109514538) (the Bonds).
Capitalised terms used in this announcement shall bear the meanings given to them in the Terms and Conditions of the Bonds set out in the Second Supplemental Trust Deed dated 31 March 2000 and the Third Supplemental Trust Deed dated 15 March 2001, in each case as amended by the Ninth Supplemental Trust Deed dated 4 December 2009 (the Terms and Conditions).
The Bonds will be redeemed in full on 20 October 2017 pursuant to Condition 7(b) of the Terms and Conditions. The Company has today delivered the notice required by Condition 7(b) to Euroclear and Clearstream, Luxembourg. In accordance with the conditions of the Bonds, the notice will be deemed to have been given to the Bondholders on 20 September 2017. Accordingly, the notice is deemed to be delivered within the 30 to 45 day period prior to the date of redemption as required by Condition 7(b).
In connection with the redemption, the Company confirms the following:
Relevant Date: 11 September 2017
Redemption Price: 116.104% (excluding accrued interest)
Accrued interest: GBP 38.19 per GBP 1,000 nominal
Total payment: GBP 1,199.23 per GBP 1,000 nominal
The Redemption Price was calculated using the Gross Redemption Yield at 3pm (London time) on the Relevant Date of the 8 per cent Treasury Stock 2021, in accordance with Condition 7(b)(ii).
Holders of Bonds which are held by Clearstream, Luxembourg or Euroclear should contact the relevant corporate actions departments within the Clearing Systems for further information.
ENDS
Note: the announcement above has also been released on the SENS system of the Johannesburg Stock Exchange.
This information is provided by RNS
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