TechnipFMC PLC accepted for exchange all of the outstanding unregistered 3.45% senior notes, or Series A, due 2022 for an equal principal amount of a new issue of 3.45% senior notes, or Series B, due 2022, the company said.
The Series A notes were issued March 29, 2017, in a private placement exempt from the registration requirements of the U.S. Securities Act of 1933, as amended.
In the exchange offer, almost $460 million aggregate principal amount of Series A notes were validly tendered and not validly withdrawn prior to the expiration of the exchange offer at 5 p.m. ET on May 22. This represents 100% of the aggregate principal amount of Series A notes outstanding upon commencement of the exchange offer, the company said in a May 22 release.
Terms of the Series B notes are substantially identical to those of the Series A notes, except that the transfer restrictions and registration rights relating to the Series A notes do not apply to the Series B notes.
