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Vodafone Group Plc: 2025 Tender Offer for 4.375% Notes Due May 2028

$VOD
Form 6-K
Filed on: 2025-02-11
Source
Vodafone Group Plc: 2025 Tender Offer for 4.375% Notes Due May 2028

Key Information from Vodafone's Tender Offer Announcement

Document Type: 6-K Date: February 11, 2025 Company: Vodafone Group Plc Location: Newbury, Berkshire, England Commission File Number: 001-10086

Tender Offer Details

  • Offering Security: 4.375% Notes due May 2028
  • Outstanding Amount: $575,122,000
  • Purpose: To purchase for cash any and all outstanding Fixed Spread Notes under previously announced terms.

Pricing and Considerations

  • Purchase Price Consideration: Specific details regarding the pricing are provided in the accompanying documentation.
  • Expiration Time: The offer will expire on February 11, 2025, at 5:00 p.m. New York time.
  • Withdrawal Rights: Notes can be validly withdrawn at any time before the expiration.

Settlement Dates

  • Results Announcement Date: Expected on February 12, 2025.
  • Settlement Date: Expected to occur on February 14, 2025, for validly tendered notes.
  • Guaranteed Delivery Settlement Date: Also expected on February 14, 2025, for notes delivered under the Guaranteed Delivery Procedures.

Additional Information

  • Holders of accepted Fixed Spread Notes will receive accrued interest up to the settlement date.
  • Notes accepted for purchase will be canceled and retired by Vodafone.
  • The offer is subject to certain conditions, which may be amended or waived by the company.

Dealer Managers

  • Merrill Lynch International and Barclays Capital Inc. are appointed as Dealer Managers.
  • Kroll Issuer Services Limited is designated as the Tender and Information Agent.

Forward-Looking Statements

  • The announcement contains forward-looking statements that are subject to risks and uncertainties. Actual results may differ from these estimates.

Summary

Vodafone is actively engaging in a tender offer for its outstanding 4.375% Notes due May 2028, with a total principal amount of $575,122,000. The process is set to close on February 11, 2025, and settlement will occur shortly thereafter. The company has appointed major financial institutions to manage the offer and has outlined the rights and conditions for noteholders participating in the offer.