ICAP Announces Bondholder Consent For Disposal 

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ICAP plc (“ICAP”) and ICAP Group Holdings plc (together with ICAP, the “Issuers”) have successfully obtained consent to amend certain terms and conditions in respect of the proposed disposal of ICAP’s global hybrid voice-broking and information business to Tullett Prebon plc (the “Proposals”), from the holders of the £125,000,000 5.50 per cent. Guaranteed Notes due July 2018 (ISIN: XS0805454872) (the “2018 Notes”) and the holders of the €350,000,000 3.125 per cent. Notes due March 2019 (ISIN: XS1041793123) (the “2019 Notes” and together with the 2018 Notes, the “Notes”).

This consent follows an invitation to the holders of the Notes as set out in a consent solicitation memorandum dated 1 March 2016 and prepared by the Issuers (the “Consent Solicitation Memorandum”).  Capitalised terms used herein and not otherwise defined shall have the meanings given to them in the Consent Solicitation Memorandum.

The meetings of the Noteholders to consider the Proposals (the “Meetings”) were held at the offices of Clifford Chance LLP, at 10 Upper Bank Street, London, E14 5JJ on 29 March 2016.

The Extraordinary Resolutions in respect of both series of Notes were duly passed at the Meetings. Of the votes received, those in favour of the Proposals represented 96.1% in respect of the 2018 Notes and 100% in respect of the 2019 Notes.

Unless the Proposals are terminated on or prior to the relevant Payment Date in accordance with the terms set out in the Consent Solicitation Memorandum, any Consent Fees are expected to be paid on 10 May 2016.

Source: LSE

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