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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 The aggregate principal amount of Securities validly tendered and not withdrawn by the Expiration Deadline was U.S.$353,821,000, as well as U.S.$ 406,000 tendered using Guaranteed Delivery Procedures, which remain subject to Holders’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  

CUSIP

Principal Amount
Outstanding

Maturity Date

Purchase Price per
U.S.$1,000

Aggregate Principal
Amount

Accepted for
Purchase

33/8% Senior
Secured Notes due
2026

US45674GAA22 /

USG4772GAA34

45674G AA2 /
G4772G AA3

U.S.$500,000,000

January 15, 2026

U.S.$950

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

 

(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to the payment of the Purchase Price, each Holder whose Securities are validly tendered and delivered (and not validly withdrawn) (including those validly tendered in accordance with the Guaranteed Delivery Procedures) and accepted for purchase will also be paid Accrued Interest equal to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.

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:

Goldman Sachs International

Plumtree Court

25 Shoe Lane

London EC4A 4AU

United Kingdom

Telephone: +44 20 7774 4836

Attention: Liability Management Group

Email:  [email protected]

 

HSBC Bank plc

8 Canada Square

London, E14 5HQ

United Kingdom

Europe: +44 (0) 20 7992 6237

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

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

Email: [email protected]

Attention: Liability Management, DCM

 

 

ING Bank N.V., London Branch

8-10 Moorgate

London EC2R 6DA

United Kingdom

Telephone: +44 20 7767 6784

Email: [email protected]
Attention: Liability Management Group

 

 

BNP Paribas

Citigroup Global Markets Limited 

J.P. Morgan Securities LLC

 

 

 

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

 

TENDER & INFORMATION AGENT

Kroll Issuer Services Limited

The Shard, 32 London Bridge Street

London SE1 9SG

United Kingdom

Tel: +44 20 7704 0880

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

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

 

 

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

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”).

View original content:https://www.prnewswire.co.uk/news-releases/ineos-quattro-finance-2-plc-announces-results-of-cash-tender-offer-for-any-and-all-of-its-3-38-senior-secured-notes-due-2026-301984045.html

SOURCE INEOS

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Blockchain Press Releases

Bitget To List Carbon Browser (CSIX) in Spot Market and Innovation Zone

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VICTORIA, Seychelles, Dec. 1, 2023 /PRNewswire/ — Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced the listing of CSIX, the native token of Carbon Browser – one of the fastest WEB3 browsers. The WEB3 browser token CSIX will be listed on Innovation Zone and Web3 Zone to expand Bitget’s spot trading spectrum, offering its users access to emerging and community-driven digital assets.

Carbon Browser is an open-source, fast, private and secure Web3 browser developed by Carbon Browser X Labs. Launched in 2016 the product is developed on a customized version of Chromium, offering faster web browsing and better user security protection. Users can utilise their privacy-first features such as protection against ad-tracking, and higher performance with fast page loading, along with access to built-in crypto wallet and more. The browser has been designed to be user-friendly and accessible even to crypto beginners.

Carbon Browser is working on delivering an extensive WEB3 browser experience with integrated wallet, ability to store cryptocurrencies, swap and bridge functionalities. This includes Web3 applications such as crypto exchanges, NFT marketplaces, dApps, as well as Web2 applications such as ChatGPT.

“In the quest of providing easy access to high potential crypto ecosystems, we’re focused on listing projects with real-world use cases. In this era of intense computer usage, browsers that give better output and performance will accelerate web3’s adoption. With these types of listings, we provide a broader range of use cases for emerging tokens in Bitget’s ecosystem,” said Gracy Chen, Managing Director at Bitget.

Deposits for CSIX tokens are open now and trading in the spot market of the platform will be available from 11:00 December 4 (UTC). Upon listing, users can trade CSIX with 150+ cryptocurrencies on Bitget’s industry-leading, fast, and secure trading platform. To buy trending and newly listed tokens such as CSIX users can use debit/credit cards, bank transfers and other multi-currency payment methods.  For more information on trading CSIX, please visit the official announcement.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL. 

For more information, visit: Website  |  Twitter  |  Telegram  |  LinkedIn  | Discord | Bitget Wallet 

View original content:https://www.prnewswire.co.uk/news-releases/bitget-to-list-carbon-browser-csix-in-spot-market-and-innovation-zone-302003790.html

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Blockchain Press Releases

Institutions Have Doubled their Bitcoin Allocations this Year, New Bybit Report Shows

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DUBAI, UAE, Dec. 1, 2023 /PRNewswire/ — Bybit, the world’s third-largest crypto exchange by volume, has released new research offering analysis of how traders adapt their strategies in fluctuating market conditions. “Navigating Bull and Bear Markets — A Dive Into Asset Allocation,” uses Bybit’s proprietary data and is the first initiated by a crypto exchange.

The report provides a detailed examination of asset allocation strategies employed by different cohorts — institutions, VIPs, and retail traders — especially in the volatile market environment since December 2022.

Key findings include:

  • Institutional Investors: Predominantly holding 45% in stablecoins, 35% in Bitcoin, and 15% in Ether, institutions emphasize liquidity and strategic diversification. Notably, their Bitcoin holdings nearly doubled in the first three quarters of 2023.
  • Ether Trends: A decline in institutional interest in Ether has been noted, although upcoming market developments, like the rumored BlackRock spot Ether ETF, could shift the trend.
  • Retail Trader Behavior: Retail traders are observed to hold more stablecoins, suggesting a more cautious allocation to riskier assets compared to traditional finance norms.
  • Altcoin Investments: Both retail and VIP traders show higher altcoin holdings than institutional investors, although these remain a minor part of total portfolios, indicating caution, perhaps due to a hangover from the recent bear market.

“This report is a testament to Bybit’s commitment to empowering our users with actionable insights,” said Ben Zhou, co-founder and CEO. “Understanding how different market participants navigate the complexities of bull and bear markets is crucial. We believe this research will not only enlighten our traders but also contribute to the broader crypto community’s understanding of market dynamics.”

Read the full report here.

#Bybit / #TheCryptoArk

About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X (Twitter) | Youtube

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Blockchain Press Releases

Set Sail on a Crypto Voyage: Bybit Announces ByBUIDLERs Cruise Contest to Dubai in Partnership with Sea Summit

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DUBAI, UAE, Dec. 1, 2023 /PRNewswire/ — Bybit, the world’s third-largest crypto exchange by volume, is excited to announce the ByBUIDLERs Cruise Contest, an extraordinary opportunity for crypto enthusiasts in India. This contest offers a chance to win a luxurious 10-day cruise from Mumbai to Dubai, coupled with an exciting Sea Summit experience and a visit to Bybit’s Dubai office.

Introducing ByBUIDLERs

ByBUIDLERs is Bybit’s initiative that combines grassroots enthusiasm with the thrilling world of cryptocurrency. Designed for crypto aficionados, the program invites participants to engage with the community, create compelling content, and contribute to Bybit’s growth and outreach.

Participation Steps

  • Enlist as a ByBUIDLER: To join, provide your name, email, and social media profile link. Express in 100 words your excitement about becoming a ByBUIDLER via our Google form.
  • Take the Bybit 5th Anniversary Personality Quiz: Complete the personality quiz and share your results on social media, highlighting how your personality influences your crypto journey.
  • Participants must post their entries before December 6th, tagging @Bybit and @TheSeaSummit, using the hashtags #ByBUIDLERcruisetrip and #High5Bybit.

Rewards

The top five most creative ByBUIDLERs, judged by their engagement and creativity, will embark on the Sea Summit 10-day luxury cruise, setting sail from Mumbai to Dubai. The cruise is also a crypto summit where winners will meet leaders in crypto, participate in educational events, and attend themed party nights.

#Bybit / #TheCryptoArk

About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For media inquiries, please contact: [email protected]

For more information please visit: https://www.bybit.com

For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X (Twitter) | Youtube

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