EXOR S.pA. (the “Company”) - S&P Rating BBB+, Outlook Stable/A-2 – announces that it is inviting eligible noteholders of its €750,000,000 5.375 per cent. notes due 2017 (ISIN XS0300900478), of which €690,000,000 is currently outstanding, listed on the Luxembourg Stock Exchange (the “Notes”) to tender their Notes for purchase by the Company for cash (the “Tender Offer”).
The terms and conditions of the Tender Offer are described in the Tender Offer Memorandum dated September 30, 2014 and summarized in the Annex hereto. The Tender Offer, which is being made as part of the Company’s active management of its liabilities, is expected to expire on October 8, 2014.
EXOR also announces that it plans a new Euro denominated bond transaction (the “New Notes”), to be issued within the amount authorized by the Board of Directors on April 9, 2014. The transaction, which is subject to market conditions, is aimed at extending the average maturity of EXOR’s debt.
The Tender Offer is not subject to the issue of the New Notes.
BNP Paribas, Crédit Agricole Corporate and Investment Bank, Citigroup Global Markets Limited, Goldman Sachs International and UniCredit Bank have been appointed as dealer managers on the Tender Offer and as joint lead managers on the issue of the New Notes.
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