Ørsted A/S (vormals: DONG ENERGY) EO-FLR SECS (Hybridanleihen)

[Stift]

DONG Energy A/S

Company Announcement

 

Results of Exchange Offer and NC10 New Issuance

...

Earlier today, DONG Energy A/S (“DONG Energy”) announced indicative results of the Exchange Offer for its EUR 700,000,000 7.75% Callable Subordinated Capital Securities due 3010 (ISIN XS0560190901) (the “Securities”) into new hybrid securities with first call date in June 2023 (the “NC10 New Securities”).

 

DONG Energy hereby announces that the final aggregate nominal amount of the Securities validly tendered and accepted by DONG Energy is approximately EUR 610 million. Furthermore, the final aggregate amount of the NC10 New Securities to be issued by DONG Energy in exchange for the Securities is approximately EUR 636 million.

 

With respect to the issuance of Additional New NC10 Securities, pricing has been completed for these securities with an aggregate issued nominal amount of approximately EUR 64 million.

 

Combining the exchange and the issuance of Additional New NC10 Securities, the total issued NC10 Securities amounted to EUR 700 million. Key details of the transaction are as follows:

 

• Size: EUR 700 million
• Maturity date: 26 June 3013
• First par call date: 26 June 2023
• Issue spread over 10 Year Euro Mid-Swap Rate: 450bp
• Fixed Coupon Rate until First par call date: 6.25%
• Price: 99.449% of nominal amount
• Listing: Luxembourg

The information provided in this announcement does not change DONG Energy’s previous financial guidance for the 2013 financial year or the announced expected investment level for 2013-2014.

 

 

For further information, please contact:

 

Media Relations

Karsten Anker Petersen

+45 9955 9662

 

[Rider]

Gibts schon Schätzungen, wo der Neubond nach den ersten Tagen an der Börse notieren wird?

[Rider]

Jyske empfiehlt den Neubond:

http://jyskebank.com/wps/wcm/connect/e964a79f-f4ed-49ae-8516-729a73e07f92/190613DONGkommentarK-UK.pdf?MOD=AJPERES&CACHEID=e964a79f-f4ed-49ae-8516-729a73e07f92

[BidiBondi]

Gibts schon Schätzungen, wo der Neubond nach den ersten Tagen an der Börse notieren wird?

 

Hallo,

 

die sind OTC schon 101,6 geld

[Stift]

Wer nicht tauschen wollte und nicht gecallt werden möchte, hat jetzt noch die Chance, die Papiere zu 104% anzubieten:

 

DONG Energy A/S

Company Announcement

 

Launch of Tender Offer

... Following completion of the Exchange Offer for DONG Energy A/S’ EUR 700,000,000 7.75% Callable Subordinated Capital Securities due 3010 (ISIN XS0560190901) (the “Securities”), DONG Energy hereby invites holders of the remaining Securities to tender any and all of their Securities for purchase by DONG Energy for cash (the “Tender Offer”).

 

In the Tender Offer, DONG Energy will pay a cash purchase price of €1,040 for each €1,000 in nominal amount of Securities accepted by it for purchase pursuant to the Tender Offer and will also pay an Accrued Interest Payment in respect of such Securities.

 

This Tender Offer will be open to all Eligible Retail Securityholders. An “Eligible Retail Securityholder” means a holder of the Securities who (i) submits no more than €250,000 in aggregate nominal amount of the Securities for purchase by DONG Energy for cash; and (ii) is located outside of the United States.

 

The Tender Offer commences today and expires on 10 July at 5pm CET.

 

Further details about the Tender Offer are found in the tender offer memorandum and the tender offer launch announcement via the following link: http://www.dongenerg...10hybridcapital

 

The information provided in this announcement does not change DONG Energy’s previous financial guidance for the 2013 financial year or the announced expected investment level for 2013-2014.

 

 

For further information, please contact:

 

Media Relations

Ulrik Frøhlke

+45 9955 9560

 

[Rider]

Der 26.6. ist übrigens Settlement-Date für den Umtausch.

Weiss jemand, wo man die OTC Kurse online einsehen kann?

[BidiBondi]

Der 26.6. ist übrigens Settlement-Date für den Umtausch.

Weiss jemand, wo man die OTC Kurse online einsehen kann?

 

Kenne leider keine öffentliche Quelle für OTC Kurse.

 

OTC zur Zeit 100,8 zu 101,2

[vanity]

Die neue DONG ist jetzt in STU als WKN A1HL4H (und BER) handelbar. Spanne zurzeit 101/101,4.

 

Wer nicht tauschen wollte und nicht gecallt werden möchte, hat jetzt noch die Chance, die Papiere zu 104% anzubieten ...

... und sollte das natürlich auch tun, denn sonst gibt's nur 101!

 

(Threadtitel an neue Gegebenheiten angepasst)

[ceekay74]

(Threadtitel an neue Gegebenheiten angepasst)

Dann hier noch Prospekt und Pricing Notice des neuen Bonds zur Vervollständigung und Archivierung für die Ewigkeit:

 

NC10 New Securities Prospectus 10 June 2013.pdf

 

NC10 Additional Securities Pricing Notice 19 June 2013.pdf

[vanity]

Nahdem Stift vor seinem Blitzkauf wohl kaum Gelegenheit hatte, die Bedingungen der Dong 3013 sorgfältig zu studieren, hier ein (hoffentlich korrektes) Exzerpt der Highlights (noch falsch auf der Börsenseite STU):

 

Kupon 6,25% fix bis 2023 (initial spread 450 Bp)

Kupon CMS5y + 475 Bp ab 2023 bis 2043, Fixing alle 5 Jahre (Prämie initial spread + 25 Bp)

Kupon CMS5y + 550 Bp ab 2043 bis 3013, Fixing alle 5 Jahre (Prämie initial spread + 25 Bp + 75 Bp)

 

Kündbar ab 2023 jährlich zum Kupontermin (zu 100)

Kündbar ab 2018 (!) gegen Vergütung des entgangenen Gewinns (mit 2013er 1,5% Bund als Referenzanleihe, vergleichbar FMC-Regelung)

 

Kuponaufschub unter bestimmten Bedingungen (nicht genau geschaut, welche das sind), aufgeschobene Kupons werden ihrerseits verzinst.

[Stift]

Nahdem Stift vor seinem Blitzkauf wohl kaum Gelegenheit hatte, die Bedingungen der Dong 3013 sorgfältig zu studieren, ...

 

So'n trockenes Zeug, und dann noch in Ausländisch - nee, so was les' ich nicht!

[Fredegar]

Kuponaufschub unter bestimmten Bedingungen (nicht genau geschaut, welche das sind), aufgeschobene Kupons werden ihrerseits verzinst.

 

Dividendentrigger: Wenn keine Dividende gezahlt wird / wurde (Anleihe ist senior zu Shares), ist Kuponaufschub immer möglich (Prospekt S. 43 (Condition 4: Optional Coupon Deferral) und 5 :[settlement of Outstanding Payments). Das ist die Bedingung für die hälftige Anerkennung als Hybridkapital.

[Stift]

DONG Energy A/S

Company Announcement

 

DONG Energy to divest onshore wind business in Denmark to SE and PFA

DONG Energy today signed an agreement with the Danish energy company SE and the Danish pension fund PFA under which SE and PFA will acquire DONG Energy’s Danish onshore wind business.

 

The aggregate sales price (enterprise value) for the onshore wind business is DKK 760 million (equivalent to approx. EUR 102 million). The divestment concerns a total of 272 wind turbines with a total installed capacity of 196 megawatt. The turbines are located at approx. 80 different sites in Denmark with an average operational track record of 16 years. The divestment includes an early stage development project totalling up to 23 megawatt. The business includes a Danish organisation consisting of approximately 18 employees, who will be employed by the purchasing company going forward.

 

With the publication of its new strategy and financial action plan on 27 February 2013, DONG Energy announced its intention to divest non-core assets of a value of DKK 10 billion in 2013-2014 and that its Wind Power business will be focusing on offshore wind in the future.

 

“With the agreement to divest our Danish onshore wind business, we are taking a further step towards the realisation of our strategy and financial action plan. Going forward our competences and capital will be deployed in offshore wind where we have a strong and differentiated competitive platform,” said Henrik Poulsen, CEO of DONG Energy.

 

The transaction is expected to be completed later in 2013 following approval by the Danish competition authorities. The transaction is expected to result in a gain before tax of up to DKK 453 million (equivalent to approx. EUR 61 million).

 

The information provided in this announcement does not change DONG Energy’s previous financial guidance for the 2013 financial year or the announced expected investment level for 2013-2014.

 

 

 

For additional information, please contact:

 

 

Media Relations

Rune Birk Nielsen

+45 9955 6543

 

 

 

[Rider]

Dong-Umtausch bei der DIBA endlich erfolgt. Korrekte Abrechnung, Stückzinsen vom Altbond fehlen noch.

[Stift]

Dong-Umtausch bei der DIBA endlich erfolgt. Korrekte Abrechnung, Stückzinsen vom Altbond fehlen noch.

 

Aber: "Krumme" Nominale wird bis in Cent-Bereich ausgewiesen - das war sicher nicht die letzte Buchung zu diesem Umtausch.

[Rider]

1372355865[/url]' post='833400']

1372346071[/url]' post='833349']

Dong-Umtausch bei der DIBA endlich erfolgt. Korrekte Abrechnung, Stückzinsen vom Altbond fehlen noch.

 

Aber: "Krumme" Nominale wird bis in Cent-Bereich ausgewiesen - das war sicher nicht die letzte Buchung zu diesem Umtausch.

 

Ist heute korrigiert worden. Gerade Nominale plus Käschausgleich auf dem Konto.

Stückzinsen fehlen aber noch immer.

[ceekay74]

DONG Energy A/S announces its intention to issue hybrid capital with first par call date in 2018

 

DONG Energy hereby announces its intention to issue new callable subordinated capital securities due 3013 with first par call date on 8 July 2018 (the "New NC5 Securities").

 

The structure of the New NC5 Securities is in line in with the prevailing market standard, and the New NC5 Securities are expected to receive 50% equity content from S&P, Moody's and Fitch. The aggregate principal amount of New NC5 Securities to be issued is expected to be EUR 500,000,000 (benchmark size).

 

 

[/Quote]

 

130702_DONG Energy_intention to issue hybrid capital.pdf

 

Prospekt zur ISIN XS0943371194:

 

DONG_Energy_3013_NC5_prospectus.pdf

 

Presentation_July_2013_Final.pdf

[ceekay74]

Successful issuance of hybrid capital with first par call date in 2018

 

Earlier today, DONG Energy announced its intention to issue new callable subordinated capital securities due 3013 with first par call date on 8 July 2018 (the "New NC5 Securities"). The New NC5 Securities have now been successfully issued.

 

Key details of the New NC5 Securities are as follows:

 

* Aggregate principal amount: EUR 500 million

* Maturity date: 8 July 3013

* First par call date: 8 July 2018

* Issue spread over 5 Year Euro Mid-Swap Rate: 380bp

* Fixed Coupon Rate until first par call date: 4.875%

* Price: 99.437% of nominal amount

* Listing: Luxembourg

 

The issue gathered significant demand with the order book of approximately EUR 2.0 bn.

[ceekay74]

We commence coverage of DONG's new €4.875% 3018 issue with a BUY recommendation

[/Quote]

 

Jyske Dong Company Update 130703.pdf

[vanity]

@Stift: Die neue neue Dong (4,875% bis 2018/3018) ist ab heute handelbar, als A1HMDE bei Kursen im Bereich 99/99,3.

[Stift]

@Stift: Die neue neue Dong (4,875% bis 2018/3018) ist ab heute handelbar, als A1HMDE bei Kursen im Bereich 99/99,3.

 

Danke, vanity!

Bin aber erst auf Seite 35 des Prospektes: Zeile für Zeile nach translate.google.de zu transferieren dauert halt

[freelunch]

@Stift: Die neue neue Dong (4,875% bis 2018/3018) ist ab heute handelbar, als A1HMDE bei Kursen im Bereich 99/99,3.

 

Danke, vanity!

Bin aber erst auf Seite 35 des Prospektes: Zeile für Zeile nach translate.google.de zu transferieren dauert halt

 

 

Hat jemand eine Info, warum die Anleihe nicht mehr handelbar ist? Danke

[ceekay74]

Hat jemand eine Info, warum die Anleihe nicht mehr handelbar ist? Danke

Die XS0943371194 / A1HMDE ist laut Online-Banking handelbar, lediglich einige Börsenseiten (STU, FRA) haben Probleme mit der Kursanzeige.

[ceekay74]

 

Result of Tender Offer

 

DONG Energy A/S (the "DONG Energy") hereby announces the results of the invitation to holders of the EUR 700,000,000 Callable Subordinated Capital Securities due 3010 (ISIN: XS0560190901) (the "Securityholders" and "Securities", respectively) to tender any and all of their Securities for purchase by DONG Energy for cash (the "Tender Offer"). Only Securityholders who (i) submitted no more than EUR 250,000 in aggregate nominal amount of the Securities for purchase by DONG Energy for cash and (ii) are located outside of the United States were eligible to participate in the Tender Offer.

 

The Tender Offer was announced on 20 June 2013 and was made on the terms and conditions contained in the tender offer memorandum dated 20 June 2013 (the "Tender Offer Memorandum"). Capitalised terms used in this announcement but not defined herein have the meanings given to them in the Tender Offer Memorandum.

 

The Expiration Deadline for the Tender Offer was 4.00 p.m. (London time) on 10 July 2013.

 

As at the Expiration Deadline, EUR 61.3 million in aggregate nominal amount of the Securities had been validly tendered. DONG Energy has decided to accept for purchase all Securities validly tendered in the Tender Offer in full.

 

The cash purchase price will be EUR 1,040 for each EUR 1,000 of nominal amount of Securities accepted for purchase by DONG Energy and DONG Energy will also pay an Accrued Interest Payment in respect of such Securities.

 

The Settlement Date in respect of the Securities accepted for purchase is expected to be 12 July 2013. Following settlement, EUR 29.1 [million] in aggregate principal amount of the Securities will remain outstanding. DONG Energy intends to exercise the Ratings Event Call at 101% of the principal amount of the Securities, plus accrued interest, in respect of the remaining outstanding Securities pursuant to condition 6(e) of the Securities.

[Apophis]

Blöde Frage warum machen die sowas, hätten doch einfach so callen können und gut?