prices its €1,000,000,000 undated non-call 10 year deeply subordinated fixed rate resettable notes
On , 2020, (Paris:FP) (LSE:TTA) (NYSE:TOT) (the “”) successfully priced its issuance of €1,000,000,000 undated non-call 10 year deeply subordinated fixed rate resettable notes (the “”) with a fixed coupon of 2.000% until the first call date. The New Notes are scheduled to be admitted to trading on Euronext Paris. It is also expected that the rating agencies will assign the New Notes a rating of A2/A- (Moody's/ S&P) and 50% equity credit. The issuance of the New Notes is expected to occur on .
On , 2020, the Company launched a tender offer (the “”) in order to partially repurchase its undated deeply subordinated fixed rate resettable notes with a first call date on (ISIN: XS1195201931) issued by the Company on , of which €1,000,000,000 are currently outstanding, and admitted to trading on Euronext Paris (the “ ”). The Tender Offer is subject to a maximum acceptance amount which will be determined and announced by the Company in its sole and absolute discretion as soon as reasonably practicable on (the “”).
The purpose of the Tender Offer and the planned issuance of New Notes is, amongst other things, to proactively manage the Company's hybrid portfolio while intending to maintain the aggregate size of the stock of outstanding hybrid notes at around the same level. The funds resulting from the issuance of the New Notes will be used to finance the partial repurchase of the Existing Notes and for general corporate purposes.
The New Notes have not been nor will be registered under the United States Securities Act of 1933, as amended (the “”) nor with any securities regulatory authority of any state or other jurisdiction of and the New Notes may not be offered or sold within or to, or for the account or benefit of, Persons (as defined in Regulation S under the Securities Act (“”)) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the New Notes may be offered or sold solely to persons who are not Persons outside in reliance on Regulation S.Securities ActRegulation S
For the purposes of the above paragraph, means , its territories and possessions (including , the , , , and the ), any state of and the .
This announcement does not constitute an invitation to participate in the Tender Offer or the issuance of New Notes in or from any jurisdiction in or from which, or to or from any person to or from whom, it is unlawful to make such invitation under applicable securities laws. The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required to inform themselves about, and to observe, any such restrictions.
Tenders of Existing Notes for purchase pursuant to the Tender Offer will not be accepted from qualifying holders in any circumstances in which such offer or solicitation is unlawful. The Company does not make any recommendation as to whether or not qualifying holders should participate in the Tender Offer.
The Tender Offer is not being made and will not be made directly or indirectly in or into, or by use of the mails of, or by any means or instrumentality (including, without limitation, facsimile transmission, telex, telephone, email and other forms of electronic transmission) of interstate or foreign commerce of, or any facility of a national securities exchange of, or to Persons as defined in Regulation S and Existing Notes may not be tendered in the Tender Offer by any such use, means, instrumentality or facility from or within , by persons located or resident in (“U.S. holders” within the meaning of Rule 800(h) under the Securities Act). Accordingly, any documents or materials related to the Tender Offer are not being, and must not be, directly or indirectly, mailed or otherwise transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into or to any such person. Any purported tender instruction in response to this Tender Offer resulting directly or indirectly from a violation of these restrictions will be invalid, and tender instructions made by a person located or resident in or any agent, fiduciary or other intermediary acting on a non-discretionary basis for a principal giving instructions from within will not be accepted.
European Economic Area and the
This press release does not constitute a prospectus for the purposes of Regulation (EU) 2017/1129 (the “”).Prospectus Regulation
Prohibition of Sales to European Economic Area and .
EEA and .
The Company has made certain forward-looking statements in this press release and in the documents referred to herein. Such statements are subject to risks and uncertainties. These statements are based on the beliefs and assumptions of the management of the Company and on the information currently available to its management. Forward-looking statements include information concerning forecasts, projections, anticipated synergies, and other information concerning possible or assumed future results of the Company, and may be preceded by, followed by, or otherwise include the words “believes”, “expects”, “anticipates”, “intends”, “plans”, “targets”, “estimates” or similar expressions.
Forward-looking statements are not assurances of results or values. They involve risks, uncertainties and assumptions. the Company’s future results and the value of the securities it may issue may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results and values are beyond the Company’s ability to control or predict. Except for its ongoing obligations to disclose material information as required by applicable securities laws, the Company does not have any intention or obligation to update forward-looking statements after the distribution of this press release, even if new information, future events or other circumstances have made them incorrect or misleading.
Quick facts: Total SA
Market Cap: -
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE