Norsk Hydro Prices USD Bond Tender Offers
November 11 2004 - 9:37AM
PR Newswire (US)
Norsk Hydro Prices USD Bond Tender Offers OSLO, Norway, Nov. 10
/PRNewswire-FirstCall/ -- Norsk Hydro ASA (NYSE:NHY) announced
today that it priced the tender of its USD 350,000,000 9.000% bonds
due 2012 and USD 300,000,000 7.500% bonds due 2016. Pricing Details
of the Tender Offers USD 9.000% 2012 bonds 2012 Benchmark Rate
(4.875% UST due Feb 2012): 3.976% Tender Spread: 55 bps over the
2012 Benchmark Rate Tender Price: 1,279.15 per USD 1,000 principal
amount USD 7.500% 2016 bonds 2016 Benchmark Rate (4.250% UST due
Aug 2014): 4.249% Tender Spread: 85 bps over the 2016 Benchmark
Rate Tender Price: 1,211.86 per USD 1,000 principal amount The
tender offer will expire at 5.00 pm New York City Time on Friday,
November 12, 2004. Settlement is expected on November 15, 2004.
Deutsche Bank and JPMorgan are acting as Dealer Managers in this
transaction. Global Bondholder Services Corporation is acting as
Depository Agent. For further information: Norsk Hydro ASA:
Knut-Ivar Odegard Tor Steinum Tel: +47 22 53 21 67 +47 22 53 27 31
e.mail: Further details on the transactions can be obtained from:
Dealer Managers: Deutsche Bank Securities Inc. J.P. Morgan
Securities Inc. Liability Management Group Liability Management
Group Tel: + 1 (866) 627 0391 Tel: + 1 (866) 834 4666 Depository
Agent: USA: Global Bondholder Services Corporation Tel: +1 (212)
430 3774 OFFER RESTRICTIONS Neither this Announcement nor the
Tender Offer Memorandum constitutes an invitation to participate in
the Tender Offer in any jurisdiction in which, or to or from any
person to or from whom, it is unlawful to make such invitation
under applicable securities laws. The distribution of this
Announcement or the Tender Offer Memorandum in certain
jurisdictions may be restricted by law. Persons into whose
possession this Announcement or the Tender Offer Memorandum come
are required by each of the Company, the Dealer Managers and the
Depository Agents to inform themselves about, and to observe, any
such restrictions. Republic of Italy With respect to all of the
notes, the solicitations of offers to sell are not being made in
the Republic of Italy and the solicitation memoranda in relation to
the bonds have not been submitted to the clearance procedure of
Commissione Nazionale Per Le Societa E La Borsa (CONSOB) pursuant
to Italian laws and regulations and may not be used in the Republic
of Italy in connection with the solicitations of offers to sell.
Accordingly, noteholders are hereby notified that, to the extent
such noteholders are Italian residents, the solicitations of offers
to sell are not available to them and, as such, any offers to sell
received from such persons shall be void and neither the
solicitation memoranda nor any other material relating to the
solicitations of offers to sell may be distributed or made
available in the Republic of Italy. Belgium In Belgium, the Offers
will not, directly or indirectly, be made to, or for the account
of, any person other than to professional or institutional
investors referred to in article 3, 2 of the Belgian royal decree
of 7 July 1999 on the public character of financial operations (the
"Public Decree"), each acting on their own account. This
Announcement has not been and will not be submitted to nor approved
by the Belgium Banking, Finance and Insurance Commission
(Commission Bancaire, Financiere et des Assurances/Commissie voor
het Bank, Financie en assurantiewezen) and accordingly may not be
used in connection with any offer if Belgium except as may
otherwise be permitted by law. France The Offers are not being
made, directly or indirectly, to the public in France and only
qualified investors ("Investisseurs Qualifies") as defined in
Article L. 411-2 of the French Code Monetaire et Financier and
decree no. 98-880 dated 1 October 1998 are eligible to accept the
Offer. United Kingdom The Offers are for circulation to noteholders
and other persons in the United Kingdom to whom it may lawfully be
issued in accordance with the Financial Services and Markets Act
2000 (Financial Promotion) Order 2001, any person satisfying this
criteria being referred to as a "relevant person". This
communication may not be acted upon by anyone in the United Kingdom
who is not a relevant person. DATASOURCE: Norsk Hydro ASA CONTACT:
Knut-Ivar Odegard, +47-22-53-21-67, , or Tor Steinum,
+47-22-53-27-31, , both of Norsk Hydro ASA; or Further details on
the transactions can be obtained from: Dealer Managers - Deutsche
Bank Securities Inc., Liability Management Group, +1-866-627-0391;
or J.P. Morgan Securities Inc., Liability Management Group,
+1-866-834-4666; or Depository Agent - USA, Global Bondholder
Services Corporation, +1-212-430-3774
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