After reviewing possible courses of action and taking into account the interests of all stakeholders, the Issuer has decided to unconditionally and irrevocably waive its call right in relation to the Capital Securities upon the occurrence of a Rating Event (as defined in Condition 6 (e) of the Capital Securities) except as detailed in a Waiver of Rights, “Afstand van Recht” dated 11 December 2015.
This Waiver of Rights does not in any way alter or affect TenneT's right to call or redeem the Capital Securities under and in accordance with the Conditions upon the occurrence of a Rating Event other than set out in the Waiver of Rights or pursuant to any other provision of the Conditions.
TenneT expects S&P to promptly restore the "intermediate" equity content to the Securities as a result of the Waiver of Rights.
Download Waiver of Rights
Definitions
Unless the context otherwise requires, capitalised terms used but not defined herein have the same meaning as assigned thereto in the Terms & Conditions of the Capital Securities (the "Conditions") set forth in the prospectus dated 4 February 2010 for the Capital Securities.
TenneT Holding B.V. Attention: Jeroen Dicker, Group Treasurer P.O. Box 718 6800 AS Arnhem The Netherlands
