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Anglo American Capital Plc announces pricing for cash tender offer
Anglo American plc (the “Company”)
Registered office: 20 Carlton House Terrace, London SW1Y 5AN
Registered number: 3564138 (incorporated in England and Wales)
Legal Entity Identifier: 549300S9XF92D1X8ME43
ISIN: GBOOB1XZS820
JSE Share Code: AGL
NSX Share Code: ANM
1 June 2021
ANGLO AMERICAN CAPITAL PLC1 ANNOUNCES PRICING FOR CASH TENDER OFFER FOR TWO
SERIES OF ITS U.S. DOLLAR NOTES AND A SERIES OF ITS EURO NOTES
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7
OF THE MARKET ABUSE REGULATION (EU) 596/2014, AS IT FORMS PART OF DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON
RESIDENT AND/OR LOCATED IN, ANY JURISDICTION WHERE SUCH RELEASE, PUBLICATION
OR DISTRIBUTION IS UNLAWFUL (SEE “OFFER AND DISTRIBUTION RESTRICTIONS” BELOW)
Anglo American Capital plc (the “Company”) announces today the pricing and early acceptance of its invitation to
holders of its (i) US$750,000,000 5.375 per cent. Senior Notes due April 2025 guaranteed by Anglo American plc2
(ISIN: US034863AV24 (Rule 144A) / USG0446NAQ72 (Reg S)) (“April 2025 US Dollar Notes”); (ii)
US$650,000,000 4.875 per cent. Senior Notes due May 2025 guaranteed by Anglo American plc (ISIN:
US034863AP55 (Rule 144A) / USG0446NAJ30 (Reg S)) (“May 2025 US Dollar Notes” and, together with the
April 2025 US Dollar Notes, the “US Dollar Notes”) and (iii) €600,000,000 1.625 per cent. Guaranteed Notes due
September 2025 guaranteed by Anglo American plc (ISIN: XS1686846061) (the “Euro Notes” and, together with
the April 2025 US Dollar Notes and May 2025 US Dollar Notes each being a “Series”, and any notes within any
such Series being the “Notes”) to tender their Notes for purchase by the Company for cash (each such invitation an
“Offer” and together, the “Offers”), on the terms of, and subject to the Offer Cap and the Acceptance Priority
Levels and the other conditions contained in, a tender offer memorandum dated 17 May 2021 (the “Tender Offer
Memorandum”).
Capitalised terms not otherwise defined in this announcement have the same meaning as assigned to them in the
Tender Offer Memorandum.
Holders are advised to read carefully the Tender Offer Memorandum for full details of, and information on
the procedures for participating in, the Offers.
The Early Tender Deadline for the Offers was at 5:00 p.m. New York City time on 28 May 2021 and pricing of the
Offers took place at or around at or around 10:00 a.m., New York time today.
The table below contains a summary of the Offers and the principal amount of Notes the Company has accepted for
purchase pursuant to the Offers following the Early Tender Deadline.
1 (LEI TINT358G1SSHR3L3PW36)
2 (LEI 549300S9XF92D1X8ME43)
Principal Amount
Principal Final
Acceptance Reference Fixed Early outstanding after
Notes ISIN/ CUSIP amount Pro-Rating Factor Acceptance
Priority Level Yield Spread Consideration Early Settlement
outstanding Amount Date
April Rule 144A: US$750,000,000 1 0.807% 30 bps $1,156.12 per 100.0000% $557,223,000 $192,777,000
2025 US US034863AV24 / $1,000
Dollar 034863 AV2
Notes Reg S:
USG0446NAQ72 /
G0446N AQ7
May Rule 144A: US$650,000,000 2 0.807% 35 bps $1,143.05 per 75.5925% $311,256,000 $338,744,000
2025 US US034863AP55 / $1,000
Dollar 034863 AP5
Notes Reg S:
USG0446NAJ30 /
G0446N AJ3
Euro XS1686846061 €600,000,000 3 N/A N/A N/A N/A NA €600,000,000
Notes
As further described in the Tender Offer Memorandum, the aggregate principal amount of each Series that will be
purchased pursuant to the Offers has been determined in accordance with the Acceptance Priority Levels, with
Acceptance Priority Level 1 being the highest and Acceptance Priority Level 3 being the lowest. The April 2025 US
Dollar Notes validly tendered pursuant to the relevant Offer, having Acceptance Priority Level 1, will be accepted
before any validly tendered May 2025 US Dollar Notes, having Acceptance Priority Level 2, followed by any
validly tendered Euro Notes, having Acceptance Priority Level 3. The Company has accepted all validly tendered
April 2025 US Dollar Notes and, on a pro-rata basis, the May 2025 US Dollar Notes, before any validly tendered
Euro Notes.
The total Final Acceptance Amount is US$868,479,000.
The Early Settlement Date for the Notes accepted for purchase pursuant to the Offers is expected to be 3 June 2021.
Holders will also receive Accrued Interest on the Notes validly tendered and accepted for purchase in the Offers
from (and including) the immediately preceding interest payment date for such Notes to (but excluding) the Early
Settlement Date, in each case determined in accordance with the terms and conditions of the relevant Series.
Although the Offers are scheduled to expire at 11:59 p.m., New York time, on 14 June 2021, as the Offer Cap has
been reached by the Early Tender Deadline, no Notes tendered after the Early Tender Deadline will be purchased
pursuant to the Offers regardless of the Acceptance Priority Level of such Notes.
The acceptance of Notes for purchase is conditional on the satisfaction of the conditions of the Offers as provided in
the Tender Offer Memorandum.
FURTHER INFORMATION
D.F. King has been appointed by the Company as Tender and Information Agent for the purposes of the Offers.
BBVA Securities Inc., BNP Paribas, Citigroup Global Markets Limited and Morgan Stanley & Co. International plc
have been appointed as Dealer Managers for the purposes of the Tender Offer.
Holders of Notes may access the Tender Offer Memorandum at https://sites.dfkingltd.com/angloamerican.
Requests for information in relation to the Offers should be directed to:
DEALER MANAGERS
BBVA Securities Inc. BNP Paribas
1345 Avenue of the Americas, 44th Floor 16, boulevard des Italiens
New York, NY 10105 75009 Paris
United States of America France
Attention: Liability Management Attention: Liability Management Group
Email: liabilitymanagement@bbva.com Email: liability.management@bnpparibas.com
In Europe: In Europe:
Telephone: +44 20 7397 6061 Telephone: +33 1 55 77 78 9
In the United States: In United States:
Toll Free: +1 800 422 8692 Toll-Free No.: +1 (888) 210-4358
Collect: +1 212 728 2446 Confirmation No.: +1 (212) 841-3059
Citigroup Global Markets Limited Morgan Stanley & Co. International plc
Citigroup Centre 25 Cabot Square
Canada Square Canary Wharf
Canary Wharf London E14 4QA
London E14 5LB United Kingdom
United Kingdom Attention: Liability Management Team, Global Capital
Attention: Liability Management Group Markets
E-mail: liabilitymanagement.europe@citi.com Email: liabilitymanagementeurope@morganstanley.com
In Europe: In Europe:
Telephone: +44 20 7986 8969 Telephone: +44 20 7677 5040
In the United States: In the United States
Toll Free: +1 800 558 3745 Toll Free Number: +1-866-718-1649
Collect: +1 212 723 6106
Requests for information in relation to the procedures for tendering Notes in the Tender Offer or for copies
of the Tender Offer Memorandum or related documents should be directed to:
THE TENDER AND INFORMATION AGENT
D.F. King
Offer Website: https://sites.dfkingltd.com/angloamerican
Email: angloamerican@dfkingltd.com
In New York In London
48 Wall Street, 22nd Floor 65 Gresham Street
New York, New York 10005 London EC2V 7NQ
United States of America United Kingdom
Tel: +1 212 269 5550 / Toll Free: (866) 356-7813 Tel: +44 20 7920 9700
By Facsimile: +1 (212) 709 3328
Attention: Michael Horthman
Confirmation: +1 (212) 232-3233
This announcement is released by Anglo American Capital plc and contains inside information for the
purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), as it forms part of domestic law
by virtue of the European Union (Withdrawal) Act 2018 (UK MAR), encompassing information relating to
the Offers described above. For the purposes of UK MAR and Implementing Technical Standards, this
announcement is made by Clare Davage (Company Secretary) at Anglo American Capital plc.
NOTICE AND DISCLAIMER
Nothing in this announcement or the Tender Offer Memorandum constitutes an offer of securities in the United
States of America. The securities referred to above have not been and will not be registered under the U.S. Securities
Act of 1933 (the “Securities Act”) or with any securities regulatory authority of any state or other jurisdiction of the
United States and may not be offered or sold within the United States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act.
Subject to applicable law, the Company or any of its affiliates may at any time and from time to time following
completion or cancellation of the Offers purchase or exchange or offer to purchase or exchange remaining
outstanding Notes or issue an invitation to submit offers to sell Notes (including, without limitation, those tendered
pursuant to the Offers but not accepted for purchase) through open market purchases, privately negotiated
transactions, tender offers, exchange offers or otherwise, in each case on terms that may be more or less favorable
than those contemplated by the Offers.
This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the
Tender Offer Memorandum contain important information which must be read carefully before any decision is made
with respect to the Offers. If any holder of Notes is in any doubt as to the action it should take, it is recommended to
seek its own legal, accounting and financial advice, including as to any tax consequences, immediately from its
stockbroker, bank manager, attorney, accountant or other independent financial adviser. Any individual or company
whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee or
intermediary must contact such entity if it wishes to participate in the Offers. None of the Company, Anglo
American plc the Dealer Managers, the Tender and Information Agent and any person who controls, or is a director,
officer, employee or agent of such persons, or any affiliate of such persons, makes any recommendation as to
whether holders of Notes should participate in the Offers.
OFFER AND DISTRIBUTION RESTRICTIONS
This announcement and the Tender Offer Memorandum do not constitute an invitation to participate in the Offers in
any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such offer or invitation
or for there to be such participation under applicable securities laws. The distribution of this announcement and the
Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this
announcement or the Tender Offer Memorandum comes are required by each of the Company, Anglo American plc,
the Dealer Managers and the Tender and Information Agent to inform themselves about and to observe any such
restrictions.
United Kingdom
The communication of this announcement, the Tender Offer Memorandum and any other documents or materials
relating to the Offers is not being made by, and such documents and/or materials have not been approved by, an
authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000 (as amended).
Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general
public in the United Kingdom, and are only for circulation to persons to whom they can lawfully be circulated
outside the United Kingdom or to persons within the United Kingdom falling within the definition of investment
professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion)
Order 2005 (the “Order”)), or within Article 43(2) of the Order, or within Article 49(2)(a) to (d) of the Order, or to
other persons to whom it may lawfully be communicated in accordance with the Order (such persons together being
the “Relevant Persons”). This announcement and the Tender Offer Memorandum are only available to Relevant
Persons and the transaction contemplated therein will be available only to, or engaged in only with, Relevant
Persons, and this financial promotion must not be relied or acted upon by persons other than Relevant Persons.
Italy
None of the Offers, this announcement, the Tender Offer Memorandum or any other documents or materials relating
to the Offers have been or will be submitted to the clearance procedures of the Commissione Nazionale per le
Società e la Borsa (“CONSOB”) pursuant to Italian laws and regulations. The Offers are being carried out in the
Republic of Italy (“Italy”) as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative
Decree No. 58 of February 24, 1998, as amended (the “Financial Services Act”) and article 35-bis, paragraph 4 of
CONSOB Regulation No. 11971 of May 14, 1999, as amended.
Holders of each Series of Notes that are resident and/or located in Italy may tender their Notes through authorised
persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in the
Republic of Italy in accordance with the Financial Services Act, CONSOB Regulation No. 20307 of February 15,
2018, as amended from time to time, and Legislative Decree No. 385 of September 1, 1993, as amended) and in
compliance with applicable laws and regulations or with requirements imposed by CONSOB or any other Italian
authority. Each intermediary must comply with the applicable laws and regulations concerning information duties
vis-à-vis its clients in connection with the Notes or the Offers.
France
The Offers are not being made, directly or indirectly, to the public in the Republic of France. Neither this
announcement, the Tender Offer Memorandum nor any other document or material relating to the Offers have only
been and shall only be distributed in France to qualified investors as defined in Article 2(e) of Regulation (EU)
2017/1129. Neither this announcement nor the Tender Offer Memorandum has been or will be submitted for
clearance to nor approved by the Autorité des Marchés Financiers.
General
Neither this announcement, the Tender Offer Memorandum nor any other materials relating to the Offers constitutes
an offer to buy or the solicitation of an offer to sell Notes (and Tenders will not be accepted from Holders) in any
circumstances in which such offer or solicitation is unlawful. In those jurisdictions where the securities or other laws
require the Offers to be made by a licensed broker or dealer or similar and any of the Dealer Managers or any of the
Dealer Managers' respective affiliates is such a licensed broker or dealer in any such jurisdiction, the Offers shall be
deemed to be made by such Dealer Manager or such affiliate, as the case may be, on behalf of the Company in such
jurisdiction.
Each Holder wishing to submit a Tender will be deemed to give certain agreements, acknowledgments,
representations, warranties and undertakings in respect of the jurisdictions referred to above and generally as set out
in the Tender Offer Memorandum. Any Tenders from a Holder that is unable to make these agreements,
acknowledgements, representations, warranties and undertakings may be rejected. Each of the Company, Anglo
American plc, the Dealer Managers and the Tender and Information Agent reserves the right, in its absolute
discretion (and without prejudice to the relevant Holder's responsibility for the representations made by it), to
investigate, in relation to any Tender, whether any such agreement, acknowledgement, representation, warranty or
undertaking given by a Holder is correct and, if such investigation is undertaken and as a result the Company
determines (for any reason) that such representation is not correct, such Tender shall not be accepted. None of the
Company, Anglo American plc, the Dealer Managers and the Tender and Information Agent is under any obligation
to make such an investigation.
The Company has a primary listing on the Main Market of the London Stock Exchange and secondary listings on
the Johannesburg Stock Exchange, the Botswana Stock Exchange, the Namibia Stock Exchange and the SIX Swiss
Exchange.
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 02-06-2021 07:05:00
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