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INEOS QUATTRO FINANCE 2 PLC ANNOUNCES RESULTS OF CASH TENDER OFFER FOR ANY AND ALL OF ITS 3 3/8% SENIOR SECURED NOTES DUE 2026

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LONDON, Nov. 9, 2023 /PRNewswire/ — INEOS Quattro Finance 2 Plc (the “Offeror“), a company incorporated under the laws of England and Wales, announces today the results of the tender offer that the Offeror commenced on October 30, 2023, for any and all of its outstanding U.S.$500,000,000 33/8% Senior Secured Notes due 2026 (the “Securities“), issued by the Offeror and guaranteed by INEOS Quattro Holdings Limited (“IQHL“), a company incorporated under the laws of England and Wales, and certain of its subsidiaries for cash (the “Offer“). The terms and conditions of the Offer are described in an offer to purchase dated October 30, 2023 (the “Offer to Purchase“). Capitalized terms not otherwise defined in this announcement have the same meaning as assigned to them in the Offer to Purchase.

The Expiration Deadline for the Offer was 5:00 p.m. (New York City time) on November 8, 2023. The aggregate principal amount of Securities validly tendered and not withdrawn by the Expiration Deadline was U.S.$353,821,000, as well as U.S.$ 406,000 tendered using Guaranteed Delivery Procedures, which remain subject to Holders’ performance of the Guaranteed Delivery Procedures.

The following table sets forth certain information relating to the results of the Offer.

Title of Security

ISIN  

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CUSIP

Principal Amount
Outstanding

Maturity Date

Purchase Price per
U.S.$1,000

Aggregate Principal
Amount

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Accepted for
Purchase

33/8% Senior
Secured Notes due
2026

US45674GAA22 /

USG4772GAA34

45674G AA2 /
G4772G AA3

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U.S.$500,000,000

January 15, 2026

U.S.$950

U.S.$353,821,000
(1) (2)

 

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(1)  Excluding U.S.$406,000 principal amount of Securities tendered using Guaranteed Delivery Procedures, which remain subject to Holders’ performance of the Guaranteed Delivery Procedures.

(2)  Certain of the Offeror’s ultimate shareholders and entities controlled by one or more of them (the “Permitted Holders“), participated in the Offer.  The Offeror has accepted for purchase Securities in an aggregate principal amount of U.S.$24,000,000 from the Permitted Holders.

The Offer

In addition to the payment of the Purchase Price, each Holder whose Securities are validly tendered and delivered (and not validly withdrawn) (including those validly tendered in accordance with the Guaranteed Delivery Procedures) and accepted for purchase will also be paid Accrued Interest equal to interest accrued and unpaid on the Securities from (and including) the immediately preceding interest payment date for the Securities to (but excluding) the Settlement Date.

Accrued Interest will cease to accrue on the Settlement Date.

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The Purchase Price and the Accrued Interest for the Securities validly tendered (and not validly withdrawn) in the Offer will be paid on the Settlement Date.

The Offeror’s obligation to accept and pay for Securities in the Offer is subject to the satisfaction or waiver of the General Conditions and the condition that the Offeror and/or subsidiaries of IQHL shall have completed the New Debt Financing on terms satisfactory to the Offeror in its sole discretion, with aggregate net proceeds of at least €2,800,000,000 (equivalent) (the “Financing Condition“). The Financing Condition has been waived.

The Settlement Date (including in the case of Securities for which the Guaranteed Delivery Procedures are used) is expected to occur on November 14, 2023, the third business day after the Expiration Date and the first business day after the Guaranteed Delivery Deadline. Securities purchased pursuant to the Offer will be retired and canceled.

FURTHER INFORMATION
This announcement is released by INEOS Quattro Finance 2 Plc and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of MAR, encompassing information relating to the Offer referenced above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 (including as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended), this announcement is made by Dirk Arhelger, Head of Investor Relations at INEOS Quattro Finance 2 Plc.

Questions and requests for assistance in connection with the Offer may be directed to Goldman Sachs International, HSBC Bank plc or ING Bank N.V., London Branch:

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Goldman Sachs International

Plumtree Court

25 Shoe Lane

London EC4A 4AU

United Kingdom

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Telephone: +44 20 7774 4836

Attention: Liability Management Group

Email:  [email protected]

 

HSBC Bank plc

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8 Canada Square

London, E14 5HQ

United Kingdom

Europe: +44 (0) 20 7992 6237

U.S. Toll-Free: +1 (888) HSBC-4LM

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U.S.: +1 (212) 525-5552

Email: [email protected]

Attention: Liability Management, DCM

 

 

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ING Bank N.V., London Branch

8-10 Moorgate

London EC2R 6DA

United Kingdom

Telephone: +44 20 7767 6784

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Email: [email protected]
Attention: Liability Management Group

 

 

BNP Paribas

Citigroup Global Markets Limited 

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J.P. Morgan Securities LLC

 

 

 

Questions and requests for assistance in connection with the tender of Securities may be directed to:

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TENDER & INFORMATION AGENT

Kroll Issuer Services Limited

The Shard, 32 London Bridge Street

London SE1 9SG

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United Kingdom

Tel: +44 20 7704 0880

Attention: Owen Morris / Alessandro Zorza
E-mail: [email protected]

Offer Website: https://deals.is.kroll.com/ineosquattrousd

 

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NOTICE AND DISCLAIMER

Whether or not the purchase of any Securities pursuant to the Offer is completed, the Offeror, IQHL or any of their respective subsidiaries or affiliates may, to the extent permitted by applicable law, acquire Securities other than pursuant to the Offer, including through open market purchases, privately negotiated transactions, tender offers, exchange offers, redemptions or otherwise. Such purchases may be on such terms and at such prices as the Offeror or, if applicable, IQHL or any of their respective subsidiaries or affiliates may determine, which may be more or less than the prices to be paid pursuant to the Offer and could be for cash or other consideration or otherwise on terms more or less favorable than those contemplated by the Offer. Any future purchases of Securities by the Offeror or any of its affiliates will depend on various factors existing at the relevant time. There can be no assurance that the Offeror or any of its affiliates will pursue any such future offers to purchase or as to the structure or terms (or combinations thereof) of any such future offers to purchase.

This announcement must be read in conjunction with the Offer to Purchase. This announcement and the Offer to Purchase contain important information which must be read carefully before any decision is made with respect to the Offer. If any Holder is in any doubt as to the action it should take or is unsure of the impact of the Offer, it is recommended to seek its own financial, legal or tax advice, including as to any tax consequences, from its stockbroker, bank manager, attorney, accountant or other independent financial, legal or tax adviser. Any individual or company whose Securities are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee or intermediary must contact such entity if it wishes to tender Securities in the Offer (or to validly withdraw any such tender). None of the Dealer Managers, the Tender & Information Agent, the Offeror, IQHL, nor any director, officer, employee, agent or affiliate of, any such person makes any recommendation whether Holders should tender Securities in the Offer.

Information Regarding Forward-Looking Statements

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This announcement contains both historical and forward-looking statements. These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include phrases such as “will,” “may,” “should,” “could,” “continue,” “anticipate,” “believe,” “expect,” “plan,” “probability,” “appear,” “project,” “estimate,” “intend,” “risk,” “target,” “goal,” “endeavor,” “outlook,” “optimistic,” “prospects” or other words or phrases of similar import. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. All statements that address the Offeror’s or IQHL’s future operating performance or events or developments that they expect or anticipate will occur in the future are forward-looking statements.

These forward-looking statements are based on the Offeror’s or IQHL’s then current plans, estimates and projections and are subject to risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could materially affect these forward-looking statements can be found in the Offer to Purchase under the heading “Risk Factors.” Holders are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this announcement are made only as of the date of this announcement, and the Offeror undertakes no obligation to update publicly these forward-looking statements to reflect new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur. The Offeror cannot assure you that projected results or events will be achieved.

OFFER AND DISTRIBUTION RESTRICTIONS

The distribution of this announcement and the Offer to Purchase in certain jurisdictions may be restricted by law. Persons into whose possession this announcement or the Offer to Purchase comes are required by each of the Offeror, the Dealer Managers and the Tender & Information Agent to inform themselves about and to observe any such restrictions. Please refer to the Offer to Purchase for a description of such restrictions.

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014, AS AMENDED (AND INCLUDING AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED) (“MAR”).

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SOURCE INEOS

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Blockchain Press Releases

WSPN Partners with Viction and Ninety Eight Ecosystem to Boost WUSD Adoption and Expand Market Reach

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SINGAPORE, Nov. 5, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN) is excited to announce a strategic partnership with Viction, a global Layer-1 blockchain that empowers builders at every level through accessible and scalable infrastructure, along with holistic guidance. In collaboration with the Ninety Eight (formerly known as Coin98) ecosystem, this partnership aims to expand WUSD’s reach, strengthening its role as a stable and accessible digital asset across the evolving Web3 landscape. Together, WSPN, Viction, and Ninety Eight will enhance interoperability, boost liquidity, and drive local market adoption, with a strong focus on growth in emerging markets.

Expanding WUSD as a Native Stablecoin on Viction

WSPN will deploy WUSD natively on Viction, supporting integration across Web3 applications and enhancing liquidity for users and developers. With WUSD as a core asset, Viction’s ecosystem will foster secure, stable transactions, empowering dApps, protocols, and platforms with increased interoperability and cross-chain functionality.

Market Expansion, CEX Listings, and Joint Community Outreach

To expand WUSD’s presence in Vietnam, Viction will tap into its resources alongside the Ninety Eight ecosystem to drive local adoption through strategic partnerships and collaborative community outreach. Listing WUSD on major centralized exchanges will increase accessibility, reaching a broader audience. This joint effort benefits both WSPN and Viction, with WUSD enhancing visibility for Viction’s technology and ecosystem, while Viction’s strong local network and Ninety Eight’s established connections boost WUSD’s growth. Through initiatives like webinars, ambassador programs, and developer workshops, the partnership will engage the community and build a lasting foundation, fostering an understanding of both WUSD’s value and Viction’s strengths.

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Collaborative Responsibilities and Support

WSPN will oversee WUSD’s deployment on Viction and foster collaborations within its ecosystem, while Ninety Eight and Viction will support liquidity management, integrating WUSD into the Coin98 Super Wallet and strengthening infrastructure to ensure effective interoperability. Marketing initiatives led by WSPN and Viction will drive awareness and engagement for both ecosystems, reaching institutional audiences and building lasting adoption across the region.

Together, WSPN, Viction, and Ninety Eight are setting a new standard for collaboration in the Web3 space: Uniting technology, community, and accessibility to create a robust ecosystem. By empowering local markets and driving sustainable growth, this partnership is paving the way for a more inclusive, innovative blockchain future. The journey is only beginning, and the potential is limitless.

About WSPN

WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.

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Learn more: www.wspn.io | X | LinkedIn

About Viction

Viction is a global layer-1 blockchain that empowers builders at every level, provides both the foundation and enhancements necessary for projects to achieve stability and soar to their higher selves.

Viction provides seamless interoperability, scalability, flexible development, zero gas fees, enhanced security, and speed to enable builders with tech capabilities.

Beyond technical advantages, Viction offers holistic guidance through consultation, resources, funding, and strong network connections to foster project growth.

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About Ninety Eight

Ninety Eight is an ecosystem of innovation companies with a shared mission to enable and empower human potential. They found and fund blockchain companies that make Web3 accessible for everyone.

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Blockchain Press Releases

HTX Ventures: Crypto’s Impact on 2024 U.S. Election Dynamics

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SINGAPORE, Nov. 5, 2024 /PRNewswire/ — HTX Ventures, the global investment division of HTX, today unveils its latest research on crypto and its impact on the much anticipated U.S. presidential election. This marks the first time that crypto has become a key issue in a U.S. election, and the report, titled 2024 U.S. Election For Crypto: A Potential Turning Point from Tight Regulation and Ban to Support and Innovation, aims to discuss the reasons behind it and analyze what crypto will potentially look like after the election.

Both presidential candidates, Donald Trump and Kamala Harris, have leveraged crypto in their campaigns to garner support from the crypto community. As the report suggests, there are four reasons that crypto has come to the center of the stage.

First of all, crypto is becoming more important to the U.S. On the one hand, no matter which candidate wins, the U.S. deficit and debt burdens are likely to go worse, and “as a decentralized and scarce asset, Bitcoin can serve as an effective tool for governments and investors to hedge against inflation and risk. In particular, it holds potential strategic significance in the face of debt and inflation pressures,” the report points out. On the other hand, stablecoins can help expand the international influence of the U.S. dollar. The growing significance leads to the second reason that the voters are more and more interested in crypto.

Thirdly, as the Biden administration implemented tight regulation on crypto, the industry now calls for a new regulatory framework which is more relaxed.

Lastly, crypto companies have become the main contributors to political donations in 2024. The report indicates that, “these funds not only influence presidential candidates’ policies but also push for congressional election strategies in favor of cryptocurrency. As a result, the crypto industry has moved from behind the scenes into the public eye, becoming a vital force in U.S. politics.”

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The report then compared the two candidates’ crypto policies. Harris is expected to be more crypto-friendly than Biden. However, she has made limited statements on crypto policies, and is cautious on key issues like taxation, Bitcoin mining, and self-custody.

Trump, on the other hand, has shown strong interest in the digital asset industry, claiming that he aims to make the U.S. the “crypto capital of the planet and the Bitcoin superpower of the world”. He has proposed a series of crypto policy proposals, including creating a strategic Bitcoin stockpile, establishing a crypto Presidential Advisory Council, and barring the Federal Reserve from issuing a digital currency. The report anticipates that, should Trump win, there will be a clearer and more relaxed regulatory environment that benefits crypto startups and DeFi. Meanwhile, as Trump has promised to substantially lower U.S. interest rates if he is re-elected, the prices of crypto assets may be driven up thanks to increased liquidity.

The report also discusses the emergence of on-chain prediction markets. Compared to the centralized betting providers, they utilize smart contracts and decentralized ledgers to create transparent global markets, ensuring that these platforms are fair and tamper-proof.

Polymarket is the most successful platform in the sector, which secured 80% of the volume brought on by wagers on the U.S. presidential election. It has been adopted by multiple mainstream media outlets as an alternative news source. As a Web3 prediction market, Polymarket has surpassed its Web2 competitors and holds the largest market share, which is extremely rare. “Prediction markets’ impact has extended into various fields such as public opinion, financial hedging, and business decision-making,” the report states.

To read the full report, please visit: 2024 U.S. Election For Crypto: A Potential Turning Point from Tight Regulation and Ban to Support and Innovation

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About HTX Ventures

HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.

HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.
Feel free to contact us for investment and collaboration at [email protected]

Contact Details
Ruder Finn Asia
[email protected] 

 

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Blockchain Press Releases

KuCoin Shines at The Gateway Event, Advocating for Blockchain Innovation Through TON

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DUBAI, UAE, Nov. 2, 2024 /PRNewswire/ — KuCoin, a global leader in the cryptocurrency exchange arena, is thrilled to announce its active participation at this year’s premier TON community event, The Gateway. The annual conference, renowned for uniting key players in the TON ecosystem, aligns perfectly with KuCoin’s mission to democratize cryptocurrency and expand its reach across the globe.

Representing KuCoin at the event was Alicia, who took part in the insightful panel discussion on “Perspective Sectors on TON for VCs and Exchanges.” Her presence underscored the vibrant potential of the venture capital market within emerging blockchain technologies, particularly the TON ecosystem. Alicia’s discussion highlighted how TON’s seamless integration with Telegram presents unique opportunities for innovation and user engagement, resonating with KuCoin’s strategic initiatives to bridge social connectivity with financial transactions.

“TON’s integration with Telegram not only simplifies the user experience but also amplifies it, making it a gateway for millions to engage with Web3 technologies,” Alicia stated. She emphasized KuCoin’s commitment to leveraging this synergy to enhance secure, user-friendly trading experiences, thus furthering its mission of putting crypto in every pocket.

KuCoin’s participation in The Gateway event reinforces its dedication to fostering a secure, robust, and accessible trading environment, paving the way for a new era of crypto and blockchain integration.

About KuCoin

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Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 800 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 36 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/

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