THESE MATERIALS DO NOT CONSTITUTE OR FORM A PART OF ANY OFFER OR SOLICITATION
TO PURCHASE OR SUBSCRIBE FOR SECURITIES IN THE UNITED STATES. THE NOTES
MENTIONED HEREIN HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933 (THE “SECURITIES ACT”).
THE SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO, OR FOR
THE ACCOUNT OR BENEFIT OF, US PERSONS (AS SUCH TERM IS DEFINED IN REGULATION S
UNDER THE SECURITIES ACT) EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT. THERE WILL BE NO PUBLIC OFFER OF SECURITIES
IN THE UNITED STATES.
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE
UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS OR TO ANY PERSON
LOCATED OR RESIDENT IN THE REPUBLIC OF ITALY.
Announcement of final pricing regarding DONG Energy's invitation to tender
hybrid capital bonds for repurchase
On 20 January 2011 DONG Energy A/S announcedthe results of itsconditional
invitation to all holders (subject to regulatory offer restrictions as provided
for in the Tender Offer Memorandum) of its outstanding EUR 1.1bn Subordinated
Capital Securities due 3005 (ISIN: XS0223249003) to tender any or all (subject
to the Maximum Acceptance Amount as provided for in the Tender Offer
Memorandum) of their existing bonds for repurchase for cash. DONG Energy
announcedthat it had accepted for repurchase an aggregate principal amount of
existing bonds equal to EUR 500m with a Scaling Factor of 93.44%.
DONG Energy hereby announces the pricing of the invitation to tender hybrid
capital bonds for repurchase. The Repurchase Price payable by the Company for
each existing bond validly tendered in the Invitation and accepted for
repurchase by DONG Energy will be 102.012 per cent of its principal amount,
together with Accrued Interest of 3.210 per cent of the principal amount of
each such Existing Bonds.
The following summarises the pricing terms for the Invitation:
Interpolated Mid-Swap Rate:2.623%
The Settlement Date is expected to be 28 January 2011. Following settlement of
the Invitation, it is expected that EUR 600m in principal amount of the
Existing Bonds will remain outstanding.
The related pricing document will be available via the following link:
Barclays Capital, Deutsche Bank, J.P. Morgan and Société Générale were acting
as Joint Dealer Managers and Danske Bank and Nordea were acting as Co-Dealer
Managers for the Invitation. Lucid Issuer Services Limited is acting as Tender
Agent. For detailed terms of the invitation, please refer to the Tender Offer
The information provided in this announcement does not change the previous
financial guidance for the financial year 2010or the announced expected
For further information, please contact:
+45 9955 9560
Morten Hultberg Buchgreitz
+45 9955 9750
DONG Energy is one of the leading energy groups in Northern Europe. We are
headquartered in Denmark. Our business is based on procuring, producing,
distributing and trading in energy and related products in Northern Europe. We
have approximately 6,000 employees and generated just under DKK 50 billion (EUR
6.6 billion) in revenue in 2009. For further information, see
This announcement must be read in conjunction with the Tender Offer Memorandum.
This announcement and the Tender Offer Memorandum contain important information
which should be read carefully before any decision is made with the respect to
the Invitation. If you are in any doubt as to the action you should take, you
are recommended to seek your own financial advice, including as to any tax
consequences, from your stockbroker, bank manager, solicitor, accountant or
other independent financial adviser. Any individual or company whose Existing
Bonds are held on its behalf by a broker, dealer, bank, custodian, trust
company or other nominee must contact such entity if it wishes to tender
Existing Bonds in the Invitation. None of the Company, the Dealer Managers or
the Tender Agent makes any recommendation whether Bondholders should tender
Existing Bonds in the Invitation.
Company announcement (UK) 21012011 - Pricing re tender.pdf