TotalEnergies Launches Tender Offer for Notes Repurchase

TotalEnergies SE has announced the launch of a tender offer to repurchase its €2.5 billion Undated Non-Call 10 Year Deeply Subordinated Notes, initially issued on 26 February 2015. The tender offer is intended to repurchase these notes for cash, matching the aggregate principal amount expected from the issuance of new deeply subordinated notes. The offer, which is articulated in the Tender Offer Memorandum dated 12 November 2024, will end on 19 November 2024.

Simultaneously, TotalEnergies plans to issue new undated deeply subordinated fixed rate resettable notes in two tranches, with non-call periods of 5.25 and 10 years, offered to qualified investors. The completion of the repurchase and the issuance is subject to market conditions and the company's discretion.