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Prosus Prices New 30-Year Tranche USD Bond and Taps of its 2028 and 2032 EUR Bonds
Prosus N.V.
(Incorporated in the Netherlands)
(Trade Reg No 34099856)
AEX and JSE Share Code: PRX
ISIN: NL0013654783
(“Prosus” or the “Company”)
Prosus Prices New 30-Year Tranche USD Bond and Taps of its 2028 and 2032
EUR Bonds
On 1 December 2020, Prosus priced additional USD and EUR notes in an aggregate principal
amount totaling US$2.2 billion equivalent under its Global Medium-Term Note Programme.
These issuances consist of US$1.5 billion 3.832% notes due 2051, a tap of EUR350 million of
its existing 1.539% notes due 2028, and a tap of EUR250 million of its existing 2.031% notes
due 2032 (the “Bonds”).
The 2028 notes were offered at an issue price yield of 1.211% and will be treated as a single
class with Prosus’s existing EUR500 million 1.539% senior notes due 2028. The 2032 notes
were offered at an issue price yield of 1.742% and will be treated as a single class with
Prosus’s existing EUR500 million 2.031% senior notes due 2032.
The current favourable market backdrop enabled Prosus to further enhance its average debt
maturity profile while reducing its average cost of funding.
The purpose of the offerings is to raise proceeds for general corporate purposes, including
potential future M&A activity, and to further augment the company’s liquidity position.
The offerings attracted strong investor demand, with US dollar notes more than two times
subscribed and the taps of the euro notes more than three times subscribed on the 2028 and
2032 notes.
It is expected that this financing will be ratings neutral for Prosus. Prosus remains committed
to an Investment Grade credit rating, as management believes this to be important in
providing the group with debt capital market access at attractive rates.
The offerings are expected to close on 8 December 2020, subject to customary closing
conditions.
An application has been made to Euronext Dublin to admit the Bonds to listing on the Official
List of Euronext Dublin and trading on the regulated market thereof.
2 December 2020
Amsterdam, the Netherlands
JSE sponsor (South Africa): Investec Bank Limited
Cautionary Statement
This announcement is for information purposes only and does not constitute a prospectus or any offer to sell or the
solicitation of an offer to buy any security in the United States or in any other jurisdiction. Any securities mentioned
herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities
Act”) or applicable state or foreign securities laws and may not be offered or sold in the United States absent
registration under federal or applicable state securities laws or an applicable exemption from such registration
requirements. Any securities mentioned herein have been and will only be offered (i) in the United States to investors
who are reasonably believed to be both (1) qualified institutional buyers pursuant to Rule 144A under the Securities
Act and (2) Qualified Purchasers (as defined in Section 2(a)(51)(a) of the U.S. Investment Company Act of 1940, as
amended (the “Investment Company Act”)), and the rules and regulations promulgated thereunder or (ii) outside
the United States to investors who are both (1) non-U.S. residents (as defined for purposes of the Investment
Company Act) and (2) non-U.S. persons (within the meaning of Regulation S under the Securities Act).
This announcement contains information that qualifies, or may qualify, as inside information within the meaning of
Article 7(1) of the Market Abuse Regulation (EU) 596/2014.
The information contained in this announcement may contain forward-looking statements, estimates and projections.
Forward-looking statements involve all matters that are not historical and may be identified by the words “anticipate”,
”believe”, ”estimate”, ”expect”, ”intend”, ”may”, ”should”, ”will”, ”would” and similar expressions or their negatives,
but the absence of these words does not necessarily mean that a statement is not forward-looking. These statements
reflect Prosus’s intentions, beliefs or current expectations, involve elements of subjective judgment and analysis and
are based upon the best judgment of Prosus as of the date of this announcement, but could prove to be wrong.
These statements are subject to change without notice and are based on a number of assumptions and entail known
and unknown risks and uncertainties. Therefore, you should not rely on these forward-looking statements as a
prediction of actual results.
Any forward-looking statements are made only as of the date of this announcement and neither Prosus nor any other
person gives any undertaking, or is under any obligation, to update these forward-looking statements for events or
circumstances that occur subsequent to the date of this announcement or to update or keep current any of the
information contained herein, any changes in assumptions or changes in factors affecting these statements and this
announcement is not a representation by Prosus or any other person that they will do so, except to the extent
required by law.
About Prosus
Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and
investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies
that empower people and enrich communities. The group is focused on building meaningful businesses in the online
classifieds, payments and fintech, and food delivery sectors in markets including India, Russia and Brazil. Through
its ventures team investments, in areas including Edtech and health, Prosus actively seeks new opportunities to
partner with exceptional entrepreneurs who are using technology to address big societal needs. Every day, millions
of people use the products and services of companies that Prosus has invested in, acquired or built, including Avito,
Brainly, BYJU’S, Codecademy, eMAG, Eruditus, Honor, iFood, LazyPay, letgo, Meesho, Movile, OLX, PayU, Red Dot
Payments, Remitly, SimilarWeb, SoloLearn, Swiggy, and Udemy. For more information, please visit www.prosus.com.
Date: 02-12-2020 03:30:00
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