Le Lézard
Subject: Stock Sale/Buyback

CyrusOne Inc. Announces Early Results of Tender Offers and Consent Solicitations for Outstanding 5.000% Senior Notes due 2024 and 5.375% Senior Notes due 2027


CyrusOne Inc. (NASDAQ: CONE) (the "Company") today announced the early tender results of the previously announced tender offers (each, a "Tender Offer") to purchase for cash by CyrusOne LP and CyrusOne Finance Corp. (the "Issuers") any and all of their outstanding 5.000% Senior Notes due 2024 (the "2024 Notes) and 5.375% Senior Notes due 2027 (the "2027 Notes" and, together with the 2024 Notes, the "Notes").

In conjunction with the Tender Offers, the Issuers have also solicited consents (the "Consent Solicitations") to amend the applicable indenture governing each series of Notes to reduce the notice requirements for optional redemption from 30 days to 3 business days, to eliminate substantially all of the restrictive covenants and certain events of default and to eliminate or modify certain other provisions contained in each indenture. The Tender Offers and Consent Solicitations are made pursuant to the Company's Offer to Purchase and Consent Solicitation Statement dated November 20, 2019 (the "Offer to Purchase").

As of 5:00 p.m., New York City time, on December 4, 2019 (the "Consent Payment Deadline"), approximately $570,611,000 aggregate principal amount of the outstanding 2024 Notes (representing approximately 81.52% of the outstanding 2024 Notes) had been tendered along with related consents and approximately $432,033,000 aggregate principal amount of the outstanding 2027 Notes (representing approximately 86.41% of the outstanding 2027 Notes) had been tendered along with related consents.

The following table summarizes pricing information, calculated as of 2:00 p.m., New York City time, on December 4, 2019, for the Tender Offers and Consent Solicitations:

CUSIP
Numbers

Title of
Security

Early
Redemption
Date

Fixed
Spread

Reference
Security

Reference
Yield

Tender
Offer
Yield

Relevant
Bloomberg
Page

Total
Consideration

23283PAE4

23283PAG9

5.000% Senior
Notes due 2024

March 15, 2020

0.50%

1.625% U.S.
Treasury
Note due
March 15,
2020

1.619%

2.119%

PX3

$1,032.74 per
$1,000 Principal
Amount
of Notes

23283PAH7

23283PAK0

5.375% Senior
Notes due 2027

March 15, 2022

0.50%

2.375% U.S.
Treasury
Note due
March 15,
2022

1.589%

2.089%

PX5

$1,098.33 per
$1,000 Principal
Amount
of Notes

The detailed methodology for calculating the applicable Total Consideration (as defined below) for validly tendered Notes is outlined in the Offer to Purchase.

Holders who validly tendered their Notes of either series and delivered their consents pursuant to the Consent Solicitations on or prior to the Consent Payment Deadline, and who did not validly withdraw their Notes or consents, will be eligible to receive the applicable total consideration for such series of Notes determined in the manner described in the Offer to Purchase by reference to the fixed spread over the applicable yield to maturity of the applicable Reference Security listed in the Offer to Purchase (for each series of Notes, the "applicable Total Consideration"), which includes a consent payment equal to $30.00 per $1,000 principal amount of that series of tendered Notes.

Holders who properly tender their Notes of either series after the Consent Payment Deadline and on or prior to the Offer Expiration Time (as defined below), and who do not validly withdraw their Notes, will be eligible to receive an amount equal to the applicable Total Consideration for such series of notes less the $30.00 consent payment per $1,000 principal amount of that series of tendered Notes.

The Tender Offer will expire at 11:59 p.m., New York City time, on December 18, 2019, unless extended or earlier terminated as described in the Offer to Purchase (the "Offer Expiration Time").

In addition, all validly tendered and accepted Notes will receive accrued and unpaid interest up to, but not including, the payment date of the Notes.

The Company expressly reserves the right, in its sole discretion, subject to applicable law, to (i) terminate or withdraw either Tender Offer at any time and not accept for purchase any Notes, (ii) waive any or all of the conditions of either Tender Offer, in whole or in part, at any time prior to the Offer Expiration Time and from time to time, (iii) extend the Offer Expiration Time or (iv) otherwise amend either Tender Offer in any respect. If the Company makes a material change in the terms of such Tender Offer or the information concerning such Tender Offer or waives a material condition of such Tender Offer, the Company will disseminate additional offering materials and extend the Tender Offers to the extent required by law. Until the Offer Expiration Time, no assurance can be given that the Tender Offers will be completed.

The Company has retained Goldman Sachs & Co. LLC to serve as dealer manager for the Tender Offers. The information agent and tender agent for the Tender Offers is Ipreo LLC. For additional information regarding the terms of the Tender Offers, please contact Goldman Sachs & Co. LLC at (800) 828-3182. Requests for the Offer to Purchase and Consent Solicitation Statement may be directed to Ipreo LLC, by telephone at (888) 593-9546, by email at ipreo-tenderoffer@ihsmarkit.com or in writing at 450 West 33rd Street, 5th Floor, New York, New York 10001.

None of the Company, Goldman Sachs & Co. LLC or Ipreo LLC makes any recommendation in connection with the Tender Offers. Holders must make their own decisions as to whether to tender their Notes, and, if so, the principal amount of Notes to tender.

This press release is for informational purposes only and is neither an offer to purchase or sell nor a solicitation of an offer to purchase or sell any securities. The Tender Offers are being made solely by means of the Offer to Purchase and Consent Solicitation Statement dated November 20, 2019. In those jurisdictions where the securities, blue sky or other laws require any tender offer to be made by a licensed broker or dealer, the Tender Offers will be deemed to be made on behalf of the Company by one or more registered brokers or dealers licensed under the laws of such jurisdiction.

Safe Harbor Note

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. All statements, other than statements of historical facts, are statements that could be deemed forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the industries in which the Company operates and the beliefs and assumptions of the Company's management. Words such as "expects," "anticipates," "predicts," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "endeavors," "strives," "may," variations of such words and similar expressions are intended to identify such forward-looking statements. In addition, any statements that refer to projections of the Company's future financial performance, the Company's anticipated growth and trends in the Company's businesses, and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned these forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties, which could cause the Company's actual results to differ materially and adversely from those reflected in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in this release and those discussed in other documents the Company files with the Securities and Exchange Commission (the "SEC"). More information on potential risks and uncertainties is available in the Company's recent filings with the SEC, including the Company's Form 10-K report, Form 10-Q reports, and Form 8-K reports. The Company disclaims any obligation other than as required by law to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors or for new information, data or methods, future events or other changes.

About CyrusOne

CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. CyrusOne provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including more than 200 Fortune 1000 companies.

With a track record of meeting and surpassing the aggressive speed-to-market demands of hyperscale cloud providers, as well as the expanding IT infrastructure requirements of the enterprise, CyrusOne provides the flexibility, reliability, security, and connectivity that foster business growth. CyrusOne offers a tailored, customer service-focused platform and is committed to full transparency in communication, management, and service delivery throughout its nearly 50 data centers worldwide.



News published on 4 december 2019 at 19:45 and distributed by: