Voluntary Redemption Payments
09 June 2009
Taylor Wimpey plc (the 'Company')
Voluntary redemption payments to be made to the holders of the
£250,000,000 11.175% Bonds due 2012 (ISIN: XS0142298685) (the '2012 Bonds') and the holders of the £200,000,000 10.925% Bonds due 2019 (ISIN: XS0193226965) (the '2019 Bonds') on 11 June 2009 (such holders, together, the 'Bondholders')
Following the completion on 1 June 2009 of the placing and open offer announced by the Company on 8 May 2009, in accordance with the terms and conditions of the Supplemental Trust Deeds applicable to the 2012 Bonds and the 2019 Bonds (in each case, the 'Conditions'), aggregate payments of £7,547,622.38 and £6,299,111.81 in respect of principal and accrued interest are expected to be made to the holders of the 2012 Bonds and the holders of the 2019 Bonds, respectively, on 11 June 2009.
Following the mandatory redemption payments which were announced by the Company on 5 June 2009 and the voluntary redemption payments referred to above, for each £1,000 in principal amount of the 2012 Bonds or, as the case may be, the 2019 Bonds which was originally outstanding, approximately £806.03 of principal will remain outstanding.
As part of the voluntary redemption payments referred to above, in accordance with the Conditions, each Bondholder will also be entitled to receive the following amounts (as applicable) which will be added to the principal amount outstanding of the relevant 2012 Bonds or, as the case may be, the relevant 2019 Bonds and settled on the Termination Date (as defined in the Conditions):
2012 Bonds
|
Deferred Amount (as defined in the Conditions) in respect of the principal to be redeemed (per £1,000 in nominal amount of the 2012 Bonds) |
£3.398132 |
2019 Bonds
|
Deferred Amount (as defined in the Conditions) in respect of the principal to be redeemed (per £1,000 in nominal amount of the 2019 Bonds) |
£5.802480 |
Each Bondholder's entitlement will, if necessary, be rounded downwards to the nearest penny.
-ends-
For further information please contact:
Taylor Wimpey plc Tel: +44 (0) 20 7355 8109
Pete Redfern, Group Chief Executive
Chris Rickard, Group Finance Director
Jonathan Drake, Investor Relations
Finsbury Tel: +44 (0) 20 7251 3801
Faeth Birch
Clare Strange
This information is provided by RNS
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