Travis Perkins Announces Indicative Results of Tender Offer
Why we think this is neutral
The RNS announcement details the indicative results of Travis Perkins' tender offer for its outstanding notes. As this does not fall into any of the mandatory news categories, I have assigned a neutral sentiment score.
Key Points
- Indicative results show £214,920,000 in aggregate principal amount of Notes were validly tendered for purchase
- Offeror expects to set the Final Acceptance Amount at £125,000,000 in aggregate principal amount of Notes
- Scaling Factor expected to be 57.5513 per cent., subject to potential rounding adjustments
Summary
The retailer has announced the indicative results of its tender offer for outstanding notes, providing details on the expected final acceptance amount and scaling factor.
Travis Perkins plc (TPK) has announced the indicative results of its invitation to eligible holders of its outstanding £250,000,000 3.750 per cent. Guaranteed Notes due 2026 to tender their Notes for purchase. The company expects to set the Final Acceptance Amount at £125,000,000 in aggregate principal amount of Notes, with a Scaling Factor of 57.5513 per cent. subject to potential rounding adjustments.
GENERAL UPDATE