Maranello, Italy 12 July 2019 - Ferrari N.V. (NYSE/MTA: RACE) (Ferrari or the Company) hereby announces the final results of its invitation to eligible holders (subject to the offer restrictions referred to in the Tender Offer Memorandum (as defined below)) of the Company’s outstanding €700,000,000 0.250 per cent. Notes due 16 January 2021 (ISIN: XS1720053229) (the 2021 Notes), and the Company’s outstanding €500,000,000 1.500 per cent. Notes due 16 March 2023 (ISIN: XS1380394806) (the 2023 Notes and, together with the 2021 Notes, the Notes) to tender their Notes for purchase by the Company for cash (the Offers and each an Offer).

The Offers were announced on 4 July 2019 and were made on the terms and subject to the conditions set out in the tender offer memorandum dated 4 July 2019 (the Tender Offer Memorandum).

Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.

The Company hereby announces that it accepts for purchase valid tenders of the 2021 Notes pursuant to the relevant Offer for an aggregate nominal amount of €200,000,000 and the 2023 Notes pursuant to the relevant Offer for an aggregate nominal amount of €115,395,000. The final Maximum Acceptance Amount, originally set at €250,000,000, shall be increased to €315,395,000.

 

The following table sets out the final results in respect of the 2021 Notes and the 2023 Notes. No further announcements of results are expected to be made.

 

NotesISINSeries Acceptance AmountsNominal amount outstanding after the Settlement DatePro-Ration Factor (if any)Interpolated Mid-Swap RatePurchase YieldPurchase Price
2021 NotesXS1720053229
  • 0
  • 0
  1. 4819%
  1. /a
  • 0.20%
  1. 679%
2023 NotesXS1380394806
  • 0
  • 0
  1. /a
  • 0.301%
0.349%
  1. 186%

 

The Accrued Interest for the 2021 Notes accepted for purchase is 0.124% and the Accrued Interest for the 2023 Notes accepted for purchase is 0.500%.

 

The total amount that will be paid to each Noteholder on the Settlement Date for the Notes of such Series accepted for purchase from such Noteholder will be an amount (rounded to the nearest €0.01, with €0.005 rounded upwards) equal to the sum of:

 

  1. the product of (i) the aggregate nominal amount of the Notes of such Series of such Noteholder accepted for purchase from such Noteholder pursuant to the relevant Offer and (ii) the relevant Purchase Price; and
  2. the relevant Accrued Interest Payment on such Notes.

The expected Settlement Date for the Offers is 16 July 2019.


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