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Vodafone Group PLC — Capital/Financing Update 2009
Jun 3, 2009
5275_rns_2009-06-04_12197abd-7286-4ce0-9f59-713e09a3b40e.zip
Capital/Financing Update
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Filed pursuant to Rule 433 Registration Statement No. 333-144978
June 3, 2009
Final Term Sheet
$2,500,000,000
Vodafone Group Public Limited Company
$1,250,000,000 4.150% Notes due June 2014 $1,250,000,000 5.450% Notes due June 2019
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll free at 1-888-227-2275, Ext. 2663, Goldman, Sachs & Co. at Prospectus Department, 1-212-902-1171, HSBC Securities (USA) Inc. toll free at 1-866-811-8049 or Morgan Stanley & Co. Incorporated toll free at 1-866-718-1879 .
4.150% Notes due June 2014 (the Tranche 1 Notes)
| Maturity Date | We will repay the Tranche 1 Notes on
June 10, 2014 at 100% of their
principal amount plus accrued interest. |
| --- | --- |
| Issue Date | June 10, 2009. |
| Issue Price | 99.933% of the principal amount, plus
accrued interest, if any, from and
including June 10, 2009, if delivery
occurs after that date. |
| Interest Rate | 4.150% per annum. |
| Interest Payment Dates | Semi-annually on June 10 and December
10 of each year, commencing December
10, 2009, up to and including the
maturity date for the Tranche 1 Notes,
subject to the applicable business day
convention. |
| Business Day Convention | Following. |
| Day Count Fraction | 30/360. |
| Optional Make-Whole Redemption | We have the right to redeem the Tranche
1 Notes, in whole or in part, at any
time and from time to time at a
redemption price equal to the greater
of (1) 100% of the principal amount of
such Notes plus accrued interest to the
date of redemption and (2) as |
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determined by the quotation agent, the sum of the present values of the remaining scheduled payments of principal and interest on such Notes (excluding any portion of such payments of interest accrued as of the date of redemption) discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the adjusted treasury rate, plus 30 basis points, together with accrued interest to the date of redemption.
5.450% Notes due June 2019 (the Tranche 2 Notes and, together with the Tranche 1 Notes, the Notes)
| Maturity Date | We will repay the Tranche 2 Notes on
June 10, 2019 at 100% of their
principal amount plus accrued interest. |
| --- | --- |
| Issue Date | June 10, 2009. |
| Issue Price | 99.741% of the principal amount, plus
accrued interest, if any, from and
including June 10, 2009, if delivery
occurs after that date. |
| Interest Rate | 5.450% per annum. |
| Interest Payment Dates | Semi-annually on June 10 and December
10 of each year, commencing December
10, 2009, up to and including the
maturity date for the Tranche 2 Notes,
subject to the applicable business day
convention. |
| Business Day Convention | Following. |
| Day Count Fraction | 30/360. |
| Optional Make-Whole Redemption | We have the right to redeem the Tranche
2 Notes, in whole or in part, at any
time and from time to time at a
redemption price equal to the greater
of (1) 100% of the principal amount of
such Notes plus accrued interest to the
date of redemption and (2) as
determined by the quotation agent, the
sum of the present values of the
remaining scheduled payments of
principal and interest on such Notes
(excluding any portion of such payments
of interest accrued as of the date of
redemption) discounted to the
redemption date on a semi-annual basis
(assuming a 360-day year consisting of
twelve 30-day months) at the adjusted
treasury rate, plus 30 basis points,
together with accrued interest to the
date of redemption. |
The following terms apply to each of the Notes:
| Business Days | New York. |
|---|---|
| Ranking | The Notes will rank equally with all |
| present and future unsecured and | |
| unsubordinated indebtedness of | |
| Vodafone. Because we are a holding | |
| company, the Notes will effectively | |
| rank junior to any indebtedness or | |
| other liabilities of our subsidiaries. | |
| Regular Record Dates for Interest | With respect to each interest payment |
| date, the date that is 15 calendar days | |
| prior to such date, whether or not such | |
| date is a |
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| business day. | |
|---|---|
| Payment of Additional Amounts | We intend to make all payments on the |
| Notes without deducting United Kingdom | |
| (U.K.) withholding taxes. If any | |
| deduction is required on payments to | |
| non-U.K. investors, we will pay | |
| additional amounts on those payments to | |
| the extent described under Description | |
| of Debt Securities We May | |
| OfferPayment of Additional Amounts | |
| in the prospectus. | |
| Optional Tax Redemption | We may redeem the Notes before they |
| mature if we are obligated to pay | |
| additional amounts due to changes on or | |
| after the date of this final term sheet | |
| in U.K. withholding tax requirements, a | |
| merger or consolidation with another | |
| entity or a sale or lease of | |
| substantially all our assets and other | |
| limited circumstances described under | |
| Description of Debt Securities We May | |
| OfferPayment of Additional Amounts | |
| in the prospectus. In that event, we | |
| may redeem the Notes in whole but not | |
| in part on any interest payment date, | |
| at a price equal to 100% of their | |
| principal amount plus accrued interest | |
| to the date fixed for redemption. | |
| Adjusted Treasury Rate | Adjusted treasury rate means, with |
| respect to any redemption date, the | |
| rate per year equal to the semi-annual | |
| equivalent yield to maturity of the | |
| comparable treasury issue, assuming a | |
| price for the comparable treasury issue | |
| (expressed as a percentage of its | |
| principal amount) equal to the | |
| comparable treasury price for such | |
| redemption date. | |
| Comparable treasury issue means the | |
| U.S. Treasury security selected by the | |
| quotation agent as having a maturity | |
| comparable to the remaining term of | |
| such notes to be redeemed that would be | |
| utilized, at the time of selection and | |
| in accordance with customary financial | |
| practice, in pricing new issues of | |
| corporate debt securities of comparable | |
| maturity to the remaining terms of such | |
| notes. | |
| Comparable treasury price means, with | |
| respect to any redemption date, the | |
| average of the reference treasury | |
| dealer quotations for such redemption | |
| date. | |
| Quotation agent means the reference | |
| treasury dealer appointed by the | |
| trustee after consultation with us. | |
| Reference treasury dealer means any | |
| primary U.S. government securities | |
| dealer in New York City selected by the | |
| trustee after consultation with us. | |
| Reference treasury dealer quotations | |
| means with respect to each reference | |
| treasury dealer and any redemption | |
| date, the average, as determined by the | |
| trustee, of the bid and asked prices | |
| for the comparable treasury issue | |
| (expressed as a percentage of its | |
| principal amount) quoted in writing to | |
| the trustee by such reference treasury | |
| dealer at 5:00 p.m. Eastern Standard | |
| Time on the third business day | |
| preceding such |
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| redemption date. | |
|---|---|
| Listing | We will file an application to list the |
| Notes on the New York Stock Exchange. | |
| We expect that the Notes will be | |
| eligible for trading on the New York | |
| Stock Exchange within 30 days after | |
| delivery of the Notes. | |
| Use of Proceeds | We intend to use the net proceeds from |
| the sale of the Notes for general | |
| corporate purposes. General corporate | |
| purposes may include working capital, | |
| the repayment of existing debt | |
| (including debt of acquired companies), | |
| financing capital investments or | |
| acquisitions and any other purposes. We | |
| may temporarily invest funds that we do | |
| not need immediately for these purposes | |
| in short-term marketable securities. | |
| Risk Factors | You should carefully consider all of |
| the information in this final term | |
| sheet, the prospectus supplement and | |
| the prospectus, which includes | |
| information incorporated by reference. | |
| In particular, you should evaluate the | |
| specific factors under Risk Factors | |
| beginning on page 5 of the prospectus | |
| and Principal risk factors and | |
| uncertainties beginning on page 38 of | |
| our Annual Report on Form 20-F for the | |
| fiscal year ended March 31, 2009 for | |
| risks involved with an investment in | |
| the Notes. | |
| Recent Developments | On May 29, 2009, Vodafone announced the |
| issuance, for settlement on June 5, | |
| 2009, of £600 million of 5.375% notes | |
| with a maturity of December 5, 2017. | |
| Trustee and Principal Paying Agent | The Bank of New York Mellon. |
| Timing and Delivery | We currently expect delivery of the |
| Notes to occur on or about June 10, | |
| 2009. | |
| Underwriters | Barclays Capital Inc., Goldman, Sachs & |
| Co., HSBC Securities (USA) Inc. and | |
| Morgan Stanley & Co. Incorporated. |
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