The distribution of this announcement in certain jurisdictions may be restricted by law, and persons into whose possession this announcement comes are required to inform themselves about, and to observe, any such restrictions. Nothing in this announcement constitutes or contemplates an offer of, an offer to purchase or the solicitation of an offer to purchase or sell any security.
22 May 2018
TDC A/S CONSENT SOLICITATIONS
to holders of its outstanding EUR 500,000,000 3.75 per cent. Notes due 2022 (the "2022 Notes") and the GBP 550,000,000 5.625 per cent. Notes due 2023 (the "2023 Notes") (each a "Series" and, together, the "Notes")
On 15 May 2018, TDC A/S (the "Issuer") invited holders of each Series of the Notes to consent to waive certain change of control put option rights contained in the terms and conditions (in respect of each Series, the "Conditions") of the relevant Series in connection with the acquisition by DK Telekommunikation ApS of the outstanding shares of the Issuer (the "Acquisition"), as proposed by the Issuer for approval by way of an extraordinary resolution of the holders of each such Series (an "Extraordinary Resolution"), and all as further described in the consent solicitation memorandum dated 15 May 2018 (the "Consent Solicitation Memorandum", and each such invitation in respect of a Series, a "Consent Solicitation"). Capitalised terms used in this notice and not otherwise defined shall have the meanings given to them in the Consent Solicitation Memorandum.
Updates to Capital Structure
Page v of the Consent Solicitation Memorandum contains a diagram of the proposed capital structure following completion of the Acquisition. Subsequent to the date of the Consent Solicitation Memorandum, the Issuer has determined that the New Opco financing facilities will no longer include a EUR 200 million capex facility but instead the EUR 300 million revolving credit facility will be increased to EUR 500 million. Save as expressly set out herein, the terms of the Consent Solicitation will continue in full force and effect.
Further details about the transaction can be obtained from: The Solicitation Agent Nordea Bank AB (publ) c/o Nordea Danmark, filial af Nordea Bank AB (publ), Sverige Grønjordsvej 10 DK-2300 Copenhagen S Denmark Telephone: +45 61 61 29 96 Attention: Nordea Liability Management Email: NordeaLiabilityManagement@nordea.com In this announcement, references to "Solicitation Agent" shall be construed to include a reference to any of the branch offices of Nordea Bank AB (publ) and/or any successor entity pursuant to a merger or reorganisation wherein the surviving entity assumes the obligations of Nordea Bank AB (publ). The Solicitation Agent is not acting through a U.S. broker-dealer affiliate and, accordingly, will not discuss the Consent Solicitations or the contents of this announcement with any Noteholder who is unable to confirm it is not located or resident in the United States. The Tabulation Agent Lucid Issuer Services Limited Tankerton Works 12 Argyle Walk London WC1H 8HA United Kingdom Telephone: +44 20 7704 0880 Attention: David Shilson Email: tdc@lucid-is.com This announcement contains inside information for the purposes of the EU Market Abuse Regulation (EU) 596/2014. In accordance with the above and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Dennis Callesen, Investor Relations Manager of the Issuer. None of the Issuer, the Solicitation Agent, the Tabulation Agent or any director, officer, employee, agent or affiliate of any such person is acting for any Noteholder, or will be responsible to any Noteholder for providing any protections which would be afforded to its clients or for providing advice in relation to any Consent Solicitation or any Extraordinary Resolution, and accordingly none of the Issuer, the Solicitation Agent, the Tabulation Agent or any director, officer, employee, agent or affiliate of any such person, makes any recommendation whether Noteholders should participate in the relevant Consent Solicitation(s) or otherwise participate at the relevant Meeting(s) or whether or not to exercise the Put Option in respect of their Notes and none of the Solicitation Agent, the Tabulation Agent or any director, officer, employee, agent or affiliate of any such person, makes any representation whatsoever regarding the Consent Solicitations. This announcement must be read in conjunction with the Consent Solicitation Memorandum. No offer to acquire any Securities is being made pursuant to this notice. This announcement, the Notice and the Consent Solicitation Memorandum contain important information, which should be read carefully before any decision is made with respect to the Consent Solicitation. If any holder of Securities is in any doubt as to the action it should take, it is recommended to seek its own advice, including as to any tax consequences, from its broker, bank manager, solicitor, accountant or other independent adviser. This announcement and the Consent Solicitation Memorandum do not constitute an offer or an invitation to participate in the Consent Solicitations in any jurisdiction in or from which, or to or from any person to or from whom, it is unlawful to make such offer or invitation under applicable securities laws. The distribution of the Consent Solicitation Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession the Consent Solicitation Memorandum comes are required by each of the Issuer, the Solicitation Agent and the Tabulation Agent to inform themselves about, and to observe, any such restrictions. TDC A/S Teglholmsgade 1 0900 Copenhagen C DK-Denmark tdc.com
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