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OFFERING DEADLINE SET FOR JAN 29

TechnipFMC announces pricing of $1bn notes ahead of spin-off

LONDON, January 23, 2021

TechnipFMC, a leader in project management, engineering and construction sector, has announced that the aggregate principal amount of 6.5 per cent senior unsecured notes (due in 2026) has been increased from the previously announced $850 million to $1 billion.
 
The $1 billion aggregate principal amount was announced at a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (Securities Act). 
 
The move comes ahead of its spin-off 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. 
 
TechnipFMC pointed out that it aims to use the net proceeds from the offering of the notes, together with cash on hand, to (i) fully repay and terminate certain portion of the group's existing indebtedness, (ii) pay fees and expenses related to the spin-off and (iii) provide working capital and for general corporate purposes for TechnipFMC. 
 
The closing of the offering is due for January 29, 2021, subject to customary closing conditions.
 
According to TechnipFMC, the spin-off is likely to be completed during the first quarter of 2021, subject to customary conditions and regulatory approvals.



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