ZURICH, Oct. 30, 2020 /PRNewswire/ -- ABB Ltd (ABBN:
SIX Swiss Ex) ("ABB") announced today the applicable total
consideration for the 3.800% Notes due 2028 (CUSIP No. 00037B AF9)
and 4.375% Notes due 2042 (CUSIP No. 00037B AC6) (collectively, the
"Notes"), subject to the previously announced cash tender offer by
ABB Finance (USA) Inc (the
"Offer"). The applicable total consideration for the Offer was
calculated by the dealer managers (as specified below) at
10:00 a.m. New York City time, today.
The Offer is being made on the terms and subject to the
conditions set forth in the Offer to Purchase, dated October 26, 2020 (the "Offer to Purchase").
The consideration for each $1,000
principal amount of each series of Notes validly tendered at or
prior to the Expiration Date or the Guaranteed Delivery Date and
not validly withdrawn (each, a "Total Consideration"), is set forth
in the table below. In addition to the applicable Total
Consideration, holders whose Notes of a given series are accepted
for purchase will be paid accrued and unpaid interest on such Notes
to, but not including, November 4,
2020, which is expected to be the Settlement Date for the
Offer.
The table below sets forth certain information regarding the
Notes and the Offer.
Title of
Security
|
|
CUSIP / ISIN
Numbers
|
|
Reference
Treasury Security
|
|
Reference
Yield
|
|
Fixed Spread
(basis points)
|
|
Total
Consideration for $1,000 Principal Amount
|
3.800% Notes due
April 2028
|
|
00037B AF9 /
US00037BAF94
|
|
0.625% U.S. Treasury
Notes due August 15, 2030
|
|
0.842%
|
|
15
|
|
$1,193.72
|
4.375% Notes due May
2042
|
|
00037B AC6 /
US00037BAC63
|
|
1.25% U.S. Treasury
Notes due May 15, 2050
|
|
1.625%
|
|
80
|
|
$1,325.34
|
The Offer will expire at 5:00
p.m., New York City time,
on October 30, 2020 (such time and
date, as it may be extended, the "Expiration Time"), unless
extended or earlier terminated by the Issuer. Any Notes tendered
may be withdrawn at any time at or before the Expiration Time by
following the procedures described in the Offer to Purchase.
Results of the Offer will be announced on November 2, 2020.
The Issuer's obligation to accept for purchase and to pay for
Notes that have been validly tendered and not validly withdrawn
pursuant to the Offer is subject to the satisfaction or waiver, in
the Issuer's discretion, of certain conditions, which are more
fully described in the Offer to Purchase. The complete terms and
conditions of the Offer are set forth in the Offer to Purchase.
Holders of the Notes are urged to read the Offer to Purchase
carefully. Capitalized terms used here and not defined have the
meanings ascribed to them in the Offer to Purchase.
The Issuer has retained D.F. King & Co., Inc. as the tender
agent and information agent (the "Information Agent") for the
Offer. The Issuer has retained Merrill Lynch International and HSBC
Bank plc as the dealer managers for the Offer.
Holders who would like additional copies of the Offer to
Purchase may call or email the Information Agent at (212) 269-5550
(banks and brokers), (800) 317-8033 (all others) or abb@dfking.com.
Copies of the Offer to Purchase are also available at the following
website: https://sites.dfkingltd.com/abb. Questions regarding the
terms of the Offer should be directed to HSBC Bank plc at +44 20
7992 6237 (Europe), +1 888 HSBC
4LM (toll free), +1 212 525 5552 (collect) or
liability.management@hsbcib.com or to Merrill Lynch International
at +44-20-7996-5420 (Europe), +1
(888) 292-0070 (toll free), +1 (980) 387-3907 (collect) or
DG.LM-EMEA@bofa.com.
This press release shall not constitute an offer to buy or a
solicitation of an offer to sell any Notes. The Offer is being made
solely pursuant to the Offer to Purchase. The Offer is not being
made to holders of Notes in any jurisdiction in which the making or
acceptance thereof would not be in compliance with the securities,
blue sky or other laws of such jurisdiction. In any jurisdiction in
which the securities laws or blue sky laws require the Offer to be
made by a licensed broker or dealer, the Offer will be deemed to be
made on behalf of the Issuer by one or more registered brokers or
dealers that are licensed under the laws of such jurisdiction.
ABB is a leading global technology company that energizes
the transformation of society and industry to achieve a more
productive, sustainable future. By connecting software to its
electrification, robotics, automation and motion portfolio, ABB
pushes the boundaries of technology to drive performance to new
levels. With a history of excellence stretching back more than 130
years, ABB's success is driven by about 110,000 talented employees
in over 100 countries. More information about ABB can be found at
https://global.abb/group/en/investors.
Important notice
about forward-looking information
This press release includes both historical and forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, and Section 21E of the Securities Exchange Act of 1934.
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," "continue,"
"anticipate," "believe," "expect," "plan," "appear," "project,"
"estimate," "intend," or other words or phrases of similar import.
Similarly, statements that describe the Issuer's objectives, plans
or goals also are forward-looking statements. These forward-looking
statements are subject to risks and uncertainties which could cause
actual results to differ materially from those currently
anticipated. Factors that could materially affect these
forward-looking statements can be found in ABB's periodic reports
filed with the SEC. 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 speak only to the date
on which they were made, and neither ABB nor the Issuer undertake
any 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 issuer cannot assure you that
projected results or events will be achieved.
—
For more information please contact:
|
Media
Relations
Phone: +41 43 317 71 11
Email: media.relations@ch.abb.com
|
Investor
Relations
Phone: +41 43 317 71 11
Email: investor.relations@ch.abb.com
|
ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland
|
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SOURCE ABB Finance (USA)
Inc.