Financing of the Acquisition. The cash consideration payable to the St. Modwen Shareholders under the terms of the Acquisition will be financed by equity to be invested by Blackstone Funds. In connection with the financing of Bidco, Blackstone Funds have entered into the Equity Commitment Letter. Rothschild & Co in its capacity as financial adviser to Bidco, is satisfied that sufficient resources are available to Bidco to satisfy in full the cash consideration payable to the St. Modwen Shareholders under the terms of the Scheme. Further information on the financing of the Acquisition will be set out in the Scheme Document.
Financing of the Acquisition. Intact financing The Cash Consideration payable by Bidco to RSA Shareholders under the terms of the Acquisition will be funded by a combination of: bridge facilities with aggregate total commitments of £1,465 million (together, the "Intact Bridge Facilities") and a £350 million term loan facility (the "Intact Term Loan Facility") jointly arranged by Barclays Bank PLC and CIBC (the "Joint Lead Arrangers") pursuant to a bridge and term loan credit agreement dated 18 November 2020 (the "Intact Credit Agreement"). It is expected that one or more of the Intact Bridge Facilities will be replaced in whole or in part in due course by other sources of financing, as further described below; a private placement pursuant to subscription agreements (the "Cornerstone Subscription Agreements") dated 11 November 2020 between Intact and subsidiaries of each of Caisse de depot et placement du Quebec, Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board (together, the "Cornerstone Investors"), under which the Cornerstone Investors have agreed to purchase subscription receipts of Intact for aggregate proceeds of CAN$3.2 billion (the "Cornerstone Private Placement"), with each subscription receipt entitling the holder thereof to receive one common share of Intact on Completion (subject to, in the case of Caisse de depot et placement du Quebec only, receipt of necessary regulatory approvals in relation to a portion of its subscription, which is covered under the Intact Bridge Facilities until regulatory approvals are obtained). The closing of the Cornerstone Private Placement is anticipated to occur 7 calendar days after the date of this announcement; and a share purchase agreement between Canada Holdco and Tryg (the "Tryg SPA") pursuant to which Tryg will purchase shares in Scandi JVco from Canada Holdco for an aggregate consideration of approximately £4.2 billion (subject to adjustments to reflect further RSA Shares issued on or before the Scheme Record Time), as part of the intragroup reorganisation (as described in paragraph 3 above). The Intact Credit Agreement was entered into in order to satisfy the "certain funds" requirement under the Takeover Code. Intact intends to replace the Intact Bridge Facilities, in whole or in part, with other sources of financing. On 12 November 2020, Intact entered into an agreement with a group of underwriters led by CIBC Capital Markets and Barclays Capital Canada Inc. (the "Lead Underwriters"), for the issua...
Financing of the Acquisition. The Consideration payable by Regent pursuant to the Acquisition will be funded from existing cash resources available to Regent Gas Holdings Limited (“RGHL”) and Regent Gas Limited (“RGL”) and transferred to Regent pursuant to inter-company loans between RGHL and RGL, and RGHL and Regent. SPARK, in its capacity as financial adviser to Regent, is satisfied that sufficient resources are available to Regent to satisfy in full the Consideration payable to TClarke Shareholders pursuant to the terms of the Acquisition.
Financing of the Acquisition. The cash Consideration necessary to satisfy the Acquisition in full will be funded from Nationwide’s existing cash resources. UBS, in its capacity as financial adviser to Nationwide, is satisfied that sufficient resources are available to Nationwide to satisfy in full the Consideration payable by Nationwide to Virgin Money Shareholders pursuant to the Acquisition.
Financing of the Acquisition. Xxxxxxx intends to finance the cash consideration payable to the Dialog Shareholders pursuant to the Acquisition from third party debt as described below. Renesas has entered into the Bridge Facility Agreement dated 8 February 2021 with MUFG Bank, Ltd. and Mizuho Bank, Ltd. for ¥735.4 billion, the proceeds of which will be used to fund the cash consideration payable to Dialog Shareholders in connection with the Acquisition. Given that the third party debt is denominated in JPY and the cash consideration payable to Dialog Shareholders in connection with the Acquisition is to be denominated in EUR, Renesas has specific measures in place to mitigate against JPY/EUR currency fluctuations between the date of the Bridge Facility Agreement and the time of payment of the cash consideration. It is currently contemplated that the commitments and/or amounts outstanding under the Bridge Facility Agreement will be reduced or refinanced with long-term debt or equity. Nomura, in its capacity as financial adviser to Renesas, is satisfied that sufficient resources are available to Renesas to enable it to satisfy in full the cash consideration payable to Dialog Shareholders under the terms of the Acquisition. Further information on the financing of the Acquisition will be set out in the Scheme Document.
Financing of the Acquisition. The Acquisition will be funded from a combination of proceeds of the Equity Capital Raising, new debt facilities and Colfax’s existing cash resources.
Financing of the Acquisition. The Cash Consideration payable by Petrichor under the terms of the Acquisition will be funded from the existing cash resources of Petrichor which are drawn and fully funded. Spark, in its capacity as financial adviser to Petrichor, is satisfied that sufficient resources are available to satisfy in full the Cash Consideration payable to Egdon Shareholders under the terms of the Acquisition.
Financing of the Acquisition. The Cash Consideration payable to Inmarsat Shareholders pursuant to the Acquisition will be financed by a combination of equity to be invested by the Apax Funds, the Warburg Pincus Funds, CPPIB and OTPP and debt to be provided under an Interim Facilities Agreement provided by Barclays, Bank of America, N.A. and UBS, Stamford Branch as interim lenders. In connection with their equity financing of Triton Bidco, the Apax Funds, the Warburg Pincus Funds, CPPIB and OTPP have each entered into Equity Commitment Letters. The members of the Consortium may syndicate part of their funding commitments, subject to the terms of the Co-operation Agreement. UBS, as lead financial adviser to Triton Bidco and the Consortium, is satisfied that cash resources available to Triton Bidco are sufficient to enable it to satisfy in full the Cash Consideration payable to Inmarsat Shareholders under the terms of the Acquisition. Further information on the financing of the Acquisition will be set out in the Scheme Document.
Financing of the Acquisition. The Consideration payable to RPC Shareholders pursuant to the terms of the Acquisition will be funded through third party debt incurred by the direct subsidiary of Xxxxx and on-lent to Xxxxx Bidco through intercompany loan arrangements. Such third party debt is to be provided under three interim credit agreements arranged by Xxxxxxx Xxxxx Bank USA and Xxxxx Fargo Securities (or affiliates thereof). Xxxxxxx Xxxxx International and Xxxxx Fargo Securities, as joint lead financial advisers to Xxxxx, are satisfied that sufficient cash resources are available to Xxxxx Bidco to enable it to satisfy in full the Consideration payable to RPC Shareholders under the terms of the Acquisition. Further information on the financing of the Acquisition will be set out in the Scheme Document.
Financing of the Acquisition. The Group will finance the Acquisition using its existing cash resources and existing unsecured credit facilities. The Acquisition is not expected to have any material impact on the consolidated earnings per share and the consolidated net tangible assets per share of the Group for the current financial year.
