Saipem announces the final results of the tender offers relating two bonds expiring in 2025 and 2026

Source: www.gulfoilandgas.com 5/29/2024, Location: Europe

Saipem S.p.A. ( “ Saipem”) hereby announces the final results of the tender offers launched by its subsidiary Saipem Finance International B.V (“Saipem Finance” or the “Offeror”) to the holders of the bonds denominated "2.625% EUR 500m Notes due 7 January 2025” (ISIN Code: XS1711584430) (the “2025 Notes”) and “3.375% EUR 500m Notes due 15 July 2026” (ISIN Code: XS2202907510) (the “2026 Notes”, and together with the 2025 Notes, the "Notes") issued by the Offeror and admitted to trading on the Euro MTF of the Luxembourg Stock Exchange (the “Offers”).

The Offers have been made on the terms and subject to the conditions set out in the Tender Offer Memorandum dated 21 May 2024 and available at Kroll Issuer Services Limited. Capitalised terms used in this announcement, but not expressly defined shall have the meanings given to them in the Tender Offer Memorandum.

The Offers ware launched on 21 May 2024. The expiration deadline was set at 5:00 p.m. (CET) on 28 May 2024 (the "Expiration Deadline"). Please note that it had been validly tendered a total principal amount of:
Euro 104,498,000 in respect of 2025 Notes; and
Euro 258,509,000 in respect of 2026 Notes.

Therefore, the Offeror announces that the Final Acceptance Amount, on the terms and subject to the conditions set out in the Tender Offer Memorandum, is equal to Euro 363,007,000 of which:

Euro 104,498,000 in respect of the 2025 Notes (i.e. Any and All of the amount of the 2025 Notes tendered). Upon completion of the transaction, the 2025 Notes still outstanding are, in nominal amount, equal to Euro 275,407,000; and

Euro 258,509,000 in respect of the 2026 Notes, and to proceed with the increase of the Capped 2026 Notes Maximum Amount from Euro 200,000,000 to Euro 258,509,000. Therefore, no Pro-Ration Factor is to be applied to the validly made offers of 2026 Notes. Upon completion of the transaction, the 2026 Notes still outstanding are, in nominal amount, equal to Euro 241,491,000.

On the Settlement Date - scheduled for 31 May 2024 - the Offeror will pay the Purchase Prices and the amount of Accrued Interest to those holders whose tenders have been accepted.

All questions and requests for assistance relating to the Offers may be addressed to the Tender Agent:


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