TotalEnergies SE Announces (i) the Launch of a Tender Offer to Repurchase Part of Its 2.5G€ Undated Deeply Subordinated Notes Issued on 26 February 2015 and (ii) Its Intention to Issue New Deeply Subordinated Notes
TotalEnergies SE announces a tender offer to repurchase part of its €2.5 billion Undated Deeply Subordinated Notes issued in February 2015. The company simultaneously plans to issue new Euro-denominated undated deeply subordinated fixed rate resettable notes in two tranches, with 5.25-year and 10-year non-call periods. The tender price is set at 99.80% of the principal amount. The tender offer expires at 17:00 CET on November 19, 2024, with settlement expected on November 22, 2024. This initiative aims to proactively manage the company's hybrid portfolio.
TotalEnergies SE annuncia un offerta pubblica di acquisto per riacquistare parte dei suoi €2,5 miliardi di Note Profondamente Sottordinate Indeterminate emesse nel febbraio 2015. L'azienda prevede simultaneamente di emettere nuove note a lungo termine profondamente sottordinate in euro a tasso fisso, in due tranche, con periodi senza richiamo di 5,25 anni e 10 anni. Il prezzo di offerta è fissato al 99,80% del valore nominale. L'offerta scade alle 17:00 CET del 19 novembre 2024, con regolamento previsto per il 22 novembre 2024. Questa iniziativa ha l'obiettivo di gestire proattivamente il portafoglio ibrido dell'azienda.
TotalEnergies SE anuncia una oferta de compra para recomprar parte de sus Notas Subordinadas Indeterminadas por un valor de €2,5 mil millones emitidas en febrero de 2015. La compañía simultáneamente planea emitir nuevas notas subordinadas indeterminadas en euros con tasa fija, en dos tramos, con periodos de no llamada de 5,25 años y 10 años. El precio de la oferta se establece en el 99,80% del monto principal. La oferta expira a las 17:00 CET del 19 de noviembre de 2024, con liquidación prevista para el 22 de noviembre de 2024. Esta iniciativa busca gestionar proactivamente el portafolio híbrido de la empresa.
TotalEnergies SE는 2015년 2월에 발행된 €25억 미화종속채권의 일부를 재매입하기 위한 입찰 제안을 발표했습니다. 회사는 동시에 5.25년 및 10년 동안 호출할 수 없는 두 개 트랜치로 새로운 유로화 표기 미상환 고정금리 종속채권을 발행할 계획입니다. 입찰 가격은 원금의 99.80%로 설정되어 있습니다. 입찰 제안은 2024년 11월 19일 CET 17:00에 만료되며, 정산은 2024년 11월 22일로 예상됩니다. 이 initiative는 회사의 하이브리드 포트폴리오를 능동적으로 관리하는 것을 목표로 합니다.
TotalEnergies SE annonce une offre publique d'achat pour racheter une partie de ses €2,5 milliards de Notes Subordonnées Indéterminées émises en février 2015. L'entreprise prévoit simultanément d'émettre de nouvelles notes subordonnées indéterminées en euros à taux fixe, en deux tranches, avec des périodes sans appel de 5,25 ans et 10 ans. Le prix de l'offre est fixé à 99,80 % du montant nominal. L'offre expire à 17 h CET le 19 novembre 2024, avec un règlement prévu le 22 novembre 2024. Cette initiative vise à gérer proactivement le portefeuille hybride de l'entreprise.
TotalEnergies SE gibt ein Übernahmeangebot bekannt, um einen Teil seiner im Februar 2015 emittierten, unbefristeten, tief nachrangigen Anleihen in Höhe von 2,5 Milliarden Euro zurückzukaufen. Gleichzeitig plant das Unternehmen die Emission neuer unbefristeter, tief nachrangiger, festverzinslicher Anleihen in Euro in zwei Tranchen mit 5,25-jährigen und 10-jährigen Nicht-Abruffrückzahlungsfristen. Der Angebotspreis beträgt 99,80% des Nennbetrags. Das Angebot läuft bis 17:00 CET am 19. November 2024, mit einer Abwicklung, die für den 22. November 2024 erwartet wird. Diese Initiative zielt darauf ab, das hybride Portfolio des Unternehmens aktiv zu verwalten.
- Proactive management of company's debt structure through refinancing
- Strategic tender offer at 99.80% of principal amount indicates potential cost optimization
- None.
Insights
This tender offer and new notes issuance represents a strategic refinancing move by TotalEnergies. The company is offering to repurchase its
The transaction aims to optimize TotalEnergies' hybrid capital structure, taking advantage of current market conditions. The dual-tranche structure with 5.25-year and 10-year non-call periods provides flexibility in managing future refinancing needs. This proactive debt management should help maintain the company's strong credit profile while potentially securing more favorable terms on the new issuance.
TotalEnergies SE (the “Company”) (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the launch of a tender offer (the “Tender Offer”) intended to repurchase its
Today, the Company also announces its intention to issue, subject to market conditions, Euro denominated undated deeply subordinated fixed rate resettable notes in two tranches, one with a 5.25 year non-call period and the other with a 10 year non-call period (together, the “New Notes”) to be offered to qualified investors (including Qualifying Holders of the Notes who may receive priority on allocation as further described in the Tender Offer Memorandum).
The completion of the Tender Offer will depend on the satisfaction or waiver of the Financing Condition (as defined below) and the acceptance of any Notes validly tendered for purchase, which is in the sole and absolute discretion of the Company, and the Company reserves the absolute right not to accept any Notes validly tendered pursuant to the Tender Offer. “Financing Condition” shall mean the settlement of the issue of the New Notes in the sole determination and satisfaction of the Company.
The acceptance for purchase by the Company of Notes validly tendered pursuant to the Tender Offer is at the sole discretion of the Company and is subject, without limitation, to, and conditional upon, the Financing Condition. The Company is entitled to amend or waive the Financing Condition at its sole discretion.
The Tender Price payable for Notes validly submitted for tender and accepted for purchase by the Company pursuant to the Tender Offer is the Tender Price of 99.80 per cent of the principal amount of the Notes. The consideration payable to each Qualifying Holder in respect of Notes validly submitted for tender and accepted for purchase by the Company will be an amount in cash equal to the Tender Price multiplied by the aggregate principal amount of the Notes validly tendered by such Qualifying Holder and accepted for purchase by the Company plus the Accrued Interest Amount in respect of such Notes (rounded to the nearest
The purpose of the Tender Offer is, amongst other things, to proactively manage the Company’s hybrid portfolio.
The Tender Offer will end at 17:00 hours CET on 19 November 2024 (the “Expiration Time”) and its results will be announced as soon as reasonably practicable on the day after the Expiration Time. The settlement of the Tender Offer is expected to be on 22 November 2024.
This announcement must be read in conjunction with the Tender Offer Memorandum. Capitalised terms used in this announcement and not otherwise defined herein shall have the meanings ascribed to them in the Tender Offer Memorandum.
Disclaimer
This announcement does not constitute a prospectus. This announcement is neither an offer to sell nor a solicitation of an offer to buy securities. The securities which are the subject of this publication were not offered to the public.
This announcement does not constitute an invitation to participate in the Tender Offer 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 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,
For the purposes of the above paragraph,
Each Qualifying Holder of Notes participating in the Tender Offer will represent that it is not participating in the Tender Offer from
The Tender Offer is being made, directly or indirectly in the
Please refer to the Tender Offer Memorandum for the other applicable jurisdictions.
New Notes
Nothing in this announcement constitutes an offer to sell or the solicitation of an offer to buy the New Notes in any jurisdiction.
Subject as set out therein, any investment decision to purchase any New Notes should be made solely on the basis of the debt issuance programme prospectus dated 10 September 2024 which received approval no. 24-396 from the AMF on 10 September 2024 (the “Debt Issuance Programme Prospectus”) and the supplement to the Debt Issuance Programme Prospectus dated 8 November 2024 which received approval no. 24-478 from the AMF on 8 November 2024 (the “Supplement”) which together constitute a base prospectus for the purposes of Regulation (EU) 2017/1129 as may be amended from time to time (the “Prospectus Regulation”) and the final terms of the New Notes, and no reliance is to be placed on any representations other than those contained in the Debt Issuance Programme Prospectus. Subject to compliance with all applicable securities laws and regulations, the Debt Issuance Programme Prospectus and (following the pricing of the New Notes) the relevant final terms will be available from the Dealer Managers (in their capacity as a joint lead managers in the context of the issue of the New Notes) on request.
Compliance information for the New Notes: MiFID II /
For further information, please refer to the Debt Issuance Programme Prospectus, the Supplement and the relevant final terms.
No action has been or will be taken in any jurisdiction in relation to the New Notes to permit a public offering of such securities.
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TotalEnergies SE
Source: TOTALENERGIES SE
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