[Press Release] iliad SA launches a tender offer on its existing bonds maturing in October 2024 and April 2025 and intends to issue new Euro denominated senior unsecured bonds

PRESS RELEASE

Paris, April 22, 2024

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

iliad SA launches a tender offer on its existing bonds maturing in October 2024 and April 2025 and intends to issue new Euro denominated senior unsecured bonds

 

iliad SA (the "Company") announces today the launch of a tender offer on its outstanding €650,000,000 1.500 per cent. Bonds due 14 October 2024 (of which €444,600,000 are currently outstanding) (ISIN: FR0013287273) and its €650,000,000 1.875 per cent. Bonds due 25 April 2025 (of which €650,000,000 are currently outstanding) (ISIN: FR0013331196), admitted to trading on the Luxembourg Stock Exchange (the "Existing Bonds") (the "Tender Offer") and its intention to issue new Euro denominated senior unsecured bonds (the "New Bonds"), subject to market conditions. The Tender Offer is subject to a maximum acceptance amount of €500,000,000 in principal amount subject to the Company’s right to increase or decrease such amount in its sole and absolute discretion.

A mechanism of priority allocation in the New Bonds may be applied at the sole and absolute discretion of the Company for holders of the Existing Bonds who participate in the Tender Offer and who wish to subscribe to the New Bonds.

The Tender Offer is being made on the terms and subject to the conditions contained in the Tender Offer Memorandum dated 22 April 2024. The Tender Offer is subject, among other conditions, to the settlement of the issuance of the New Bonds.

The purpose of the Tender Offer is, amongst other things, to proactively manage the Company’s debt profile and to extend its average maturity.

 

 Disclaimer

This press release does not constitute an offer to subscribe to the New Bonds or an invitation to participate in the Tender Offer in or from the United States or any other country or jurisdiction in which such offer would be unlawful under the applicable laws and regulations.

This press release is not a prospectus for the purposes of the Regulation (EU) 2017/1129 (as amended, the “Prospectus Regulation”). This press release does not constitute and shall not, in any circumstances, constitute a public offering nor an invitation to the public in connection with any offer within the meaning of the Prospectus Regulation or otherwise There is no assurance that the Tender Offer will be completed or, if completed, as to the terms on which it is completed.