SRLEV NV Announces Indicative Results of Tender Offer

SRLEV NV (the Company) announces today the indicative results of its invitation to holders of its €400,000,000 Subordinated Notes due 2041 (ISIN: XS0616936372), of which €400,000,000 in aggregate nominal amount is currently outstanding (the Notes) to tender their Notes for purchase by the Company for cash (such invitation, the Offer).

The Offer was announced on 4 June 2018 and was made subject to satisfaction or waiver of the New Financing Condition and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 4 June 2018 (the Tender Offer Memorandum) prepared by the Company. Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

Further to its announcement on 12 June 2018, the Company hereby confirms the revised Pricing Time, the revised Pricing Date and the revised Settlement Date for the Offer.

The Expiration Deadline for the Offer was 5.00 p.m. (CET) on 11 June 2018.

As at the Expiration Deadline, €272,550,000 in aggregate nominal amount of the Notes had been validly tendered pursuant to the Offer. In the event that the Company decides to accept valid tenders of Notes pursuant to the Offer subject to satisfaction or waiver of the New Financing Condition and subject to the other terms and conditions contained in the Tender Offer Memorandum, it expects to set the Final Acceptance Amount at €150,000,000 in aggregate nominal amount of Notes and an indicative Scaling Factor of 55.80795 per cent. to be applied to Tender Instructions. Noteholders should note that this is a non-binding indication of the level at which the Company expects to set the Final Acceptance Amount and the Scaling Factor.

The revised Pricing Date for the Offer will be today and the revised Pricing Time for the Offer will be at or around 1.00 p.m. (CET) today. As soon as reasonably practicable after the Pricing Time, the Company will announce whether it will accept valid tenders of Notes pursuant to the Offer (conditional upon satisfaction of the New Financing Condition) and, if so accepted, the Final Acceptance Amount, the Interpolated Mid-Swap Rate, the Purchase Yield, the Purchase Price, details of any pro rata scaling and the aggregate nominal amount of Notes that will remain outstanding after the Settlement Date.

The revised Settlement Date in respect of those Notes accepted for purchase is expected to be 20 June 2018.

Deutsche Bank AG, London Branch (Telephone: +44 20 7545 8011; Attention: Liability Management Group) and NatWest Markets Plc (Telephone: +44 20 7678 5282; Attention: Liability Management; Email: liabilitymanagement@natwestmarkets.com) are acting as Dealer Managers for the Offer and Lucid Issuer Services Limited (Telephone: +44 20 7704 0880; Attention: Arlind Bytyqi/Paul Kamminga; Email: vivat@lucid-is.com) is acting as Tender Agent.

This announcement is released by SRLEV NV and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the Offer described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Yinhua Cao, CFO at SRLEV NV.

DISCLAIMER
This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire any securities is being made pursuant to this announcement. If any Noteholder is in any doubt as to the action it should take, it is recommended to seek its own financial advice, including in respect of any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial or legal adviser. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Company, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

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