Results of the tender offer and proposal for the modifications to the terms and conditions of the “2024 € 300MN 5.75% Notes” (€ 210,162,000 outstanding)
CIR: THE EARLY REDEMPTION OF THE 2024 NOTES ON 16 OCTOBER 2014
HAS BEEN APPROVED BY THE HOLDERS OF THE NOTES
The majority of the holders of the Notes adhered to the tender offer and approved the proposal with regard to the early redemption. The total amount to be paid by CIR is equal to €237,147,254.28
Milan, 13 October 2014 – CIR Sp.A. – Compagnie Industriali Riunite today announces, further to the press release published on 9 September 2014, the results of the tender offer of its ”€ 300,000,000 5.75 per cent. Notes due 2024” (€ 210,162,000 outstanding) and the proposal to modify the terms and conditions of the Notes to provide for the early redemption of all, but not some only, of the Notes remaining on completion of the offer.
The aggregate nominal amount of Notes validly tendered by holders pursuant to the offer and, which the Company, following the passing of Extraordinary Resolution, accepts to purchase is € 107,192,000.
The Company has also received voting only instructions in favour of the proposal to modify the terms and conditions of the Notes for an aggregate nominal amount equal to € 6,533,000, obtaining a total amount of votes in favour of the modifications to the terms and conditions for an aggregate nominal amount equal to € 113,725,000.
The meeting of the holders of the Notes for the approval of the modifications to the terms and conditions of the Notes was held in Milan today.
The majority required was met and the Extraordinary Resolution for the early redemption, as set out in the Notice of Meeting, was duly passed. The Company hereby announces that the Settlement Date for the offer and the proposal will be 16 October 2014. The total amount to be paid by CIR in relation to the offer and the proposal is equal to € 237,147,254.28,.
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