Travis Perkins Announces Final Tender Offer Results

On 10 April 2025, Travis Perkins plc revealed the final results of its tender offer for £250 million 3.750% guaranteed notes due in 2026. The announcement follows the initial offer made on 2 April 2025.

By the expiration deadline of 9 April 2025, holders validly tendered notes totaling £214.92 million. However, Travis Perkins has set the final acceptance amount at £125 million. Notes were accepted on a pro rata basis at a scaling factor of 57.5513%.

The pricing included a benchmark security rate of 3.343% and a purchase yield of 5.004%. The purchase spread was set at 160 basis points, with a purchase price of 98.964%.

The settlement date is expected to be 11 April 2025. Post-settlement, £125 million of the notes will remain outstanding. BNP Paribas and Lloyds Bank acted as dealer managers, with Kroll Issuer Services as tender agent.