{"id":416294,"date":"2021-01-19T00:12:43","date_gmt":"2021-01-19T05:12:43","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=416294"},"modified":"2021-01-19T00:12:43","modified_gmt":"2021-01-19T05:12:43","slug":"technipfmc-announces-offering-of-850000000-senior-notes","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/technipfmc-announces-offering-of-850000000-senior-notes\/","title":{"rendered":"TechnipFMC Announces Offering of $850,000,000 Senior Notes"},"content":{"rendered":"

<\/p>\n

\nTechnipFMC Announces Offering of $850,000,000 Senior Notes\n<\/p>\n

LONDON & PARIS & HOUSTON–(BUSINESS WIRE<\/a>)–
\nRegulatory News:\n<\/p>\n

\nTechnipFMC plc (NYSE: FTI) (Paris: FTI) (ISIN:GB00BDSFG982) , in anticipation of the previously announced planned separation (the \u201cSpin-off\u201d) into two industry-leading, independent, publicly traded companies: TechnipFMC, a fully integrated technology and services provider, and Technip Energies, a leading engineering and technology player, announced today that TechnipFMC intends to offer $850,000,000 aggregate principal amount of senior unsecured notes due 2026 (the \u201cNotes\u201d) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d). TechnipFMC intends to use the net proceeds from the offering of the Notes, together with cash on hand, to (i) fully repay and terminate certain of TechnipFMC\u2019s existing indebtedness, (ii) pay fees and expenses related to the Spin-off and (iii) provide working capital and for general corporate purposes for TechnipFMC.\n<\/p>\n

\nThe Spin-off is expected to be completed in the first quarter of 2021, subject to customary conditions and regulatory approvals. In order to provide flexibility in the current environment, if the Spin-off is not consummated on or prior to July 31, 2021 or the Spin-off is terminated or abandoned at any time prior to July 31, 2021, then TechnipFMC will be required to redeem all of the Notes at a redemption price equal to 100% of the aggregate principal amount of the Notes, plus accrued and unpaid interest, if any, to but not including the date of the redemption, which shall be determined in accordance with the confidential offering memorandum.\n<\/p>\n

\nThe Notes have not been and will not be registered under the Securities Act or the securities laws of any jurisdiction, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act.\n<\/p>\n

\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these Notes or any security, nor shall there be any sale of the Notes, in any jurisdiction in which such offer, solicitation or sale would be unlawful. This notice is being issued pursuant to and in accordance with Rule 135c under the Securities Act.\n<\/p>\n

\nAny offer of the securities in any Member State of the European Economic Area will be made pursuant to an exemption under Regulation (EU) 2017\/1129 (the \u201cProspectus Regulation\u201d) from the requirement to publish a prospectus for offers of securities. MiFID II professionals\/ECPs-only \/ No PRIIPs KID \u2013 Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (\u201cKID\u201d) has been or will be prepared as not available to retail investors in the European Economic Area.\n<\/p>\n

\nIn the United Kingdom, this announcement and any other material in relation to the Notes are being distributed only to, and are directed only at, persons who are \u201cqualified investors\u201d (as defined in Regulation (EU) 2017\/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the \u201cUK Prospectus Regulation)) who are (i) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”), or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) persons to whom it would otherwise be lawful to distribute it, all such persons together being referred to as “Relevant Persons”. In the United Kingdom, the Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Notes will be engaged in only with, Relevant Persons. Any person in the United Kingdom that is not a Relevant Person should not act or rely on this announcement or its contents. The Notes are not being offered to the public in the United Kingdom. UK MiFIR product governance \/ Professional investors and ECPs only target market \u2013 Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No KID has been or will be prepared as not available to retail investors in the United Kingdom.\n<\/p>\n

About TechnipFMC<\/i><\/b><\/p>\n

TechnipFMC is a global leader in the energy industry; delivering projects, products, technologies and services. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our customers\u2019 project economics.<\/i><\/p>\n

Organized in three business segments \u2014 Subsea, Surface Technologies and Technip Energies \u2014 we are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our customers in developing their energy resources and in their positioning to meet the energy transition challenge.<\/i><\/p>\n

Each of our approximately 36,000 employees is driven by a steady commitment to clients and a culture of project execution, purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved. <\/i><\/p>\n

Forward-Looking Statements<\/i><\/b><\/p>\n

This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Words such as \u201cexpect,\u201d \u201cplan,\u201d \u201cintend,\u201d \u201cwould,\u201d \u201cwill,\u201d and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, and include any statements with respect to the potential separation of the Company into TechnipFMC and Technip Energies, the expected financial and operational results of TechnipFMC and Technip Energies after the potential separation and expectations regarding TechnipFMC\u2019s and Technip Energies\u2019 respective capital structures, businesses or organizations after the potential separation. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, our filings with the Autorit\u00e9 des march\u00e9s financiers or the U.K. Financial Conduct Authority, as well as the following:<\/i><\/p>\n