TIDMNBS TIDMNAWI
RNS Number : 2885H
Nationwide Building Society
09 March 2018
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE
MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU)
596/2014.
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR
RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS
(INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN
SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF
THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE UNITED STATES)
OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO
RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
Nationwide Building Society announces final results of its
Tender Offers in respect of
certain of its sterling and euro-denominated Notes
9 March 2018. Nationwide Building Society (the Offeror) now
announces the final results of its separate invitations to holders
of its outstanding Notes (as defined below) to tender their Notes
for purchase by the Offeror for cash up to the Final Acceptance
Amount and subject to satisfaction of the New Financing Condition
(each such invitation an Offer and, together, the Offers). The
Offers were made in respect of the Offeror's outstanding:
EUR750,000,000 1.625 per cent. Notes due April 2019 (ISIN:
XS1052676142) (the 2019 April Notes);
EUR1,250,000,000 0.500 per cent. Notes due October 2019 (ISIN:
XS1402175811) (the 2019 October Notes);
EUR1,000,000,000 1.125 per cent. Notes due June 2022 (ISIN:
XS1241546420) (the 2022 June Notes);
EUR1,250,000,000 1.250 per cent. Notes due March 2025 (ISIN:
XS1196797614) (the 2025 Notes);
GBP700,000,000 5.625 per cent. Notes due September 2019 (ISIN:
XS0450786800) (the 2019 September Notes);
GBP500,000,000 2.25 per cent. Notes due April 2022 (ISIN:
XS1225626974) (the 2022 April Notes);
GBP500,000,000 3.000 per cent. Notes due May 2026 (ISIN:
XS1405807592) (the 2026 Notes); and
GBP500,000,000 3.25 per cent. Notes due January 2028 (ISIN:
XS1347435577) (the 2028 Notes),
(together, the Notes, and each a Series).
The Offers were announced on 28 February 2018 and were made on
the terms and subject to the conditions contained in the tender
offer memorandum dated 28 February 2018 (the Tender Offer
Memorandum) prepared by the Offeror. Capitalised terms used in this
announcement but not defined have the meanings given to them in the
Tender Offer Memorandum.
The Expiration Deadline for the Offers was 4.00 p.m. (London
time) on 8 March 2018.
Final Results
The Offeror confirms that it will accept valid tenders of Notes
in the Offers on the following basis:
Benchmark
Security
Rate /
Series Interpolated
ISIN / Scaling Acceptance Mid-Swap Purchase Purchase Purchase Final Acceptance
Notes Common Code Factor Amount Rate Spread Yield Price Amount*
Euro Notes: GBP2,495,676,578
2019 April XS1052676142
Notes / 105267614 N/A EUR300,365,000 N/A N/A -0.35% 102.096%
-------------- --------- --------------- ------------- ---------
2019
October XS1402175811
Notes / 140217581 N/A EUR800,552,000 N/A N/A -0.25% 101.227%
-------------- --------- --------------- ------------- --------- --------- ---------
2022 June XS1241546420
Notes / 124154642 N/A EUR360,651,000 0.321% -15 bps 0.171% 104.012%
-------------- --------- --------------- ------------- --------- --------- ---------
XS1196797614
2025 Notes / 119679761 N/A EUR354,272,000 0.750% 0 bps 0.750% 103.384%
-------------- --------- --------------- ------------- ---------
Sterling Notes:
2019
September XS0450786800
Notes / 045078680 N/A GBP347,909,000 0.712% 20 bps 0.912% 106.955%
-------------- --------- --------------- ------------- --------- --------- ---------
2022 April XS1225626974
Notes / 122562697 N/A GBP278,692,000 0.933% 40 bps 1.337% 103.640%
----------- -------------- --------- --------------- ------------- --------- --------- ---------
XS1405807592
2026 Notes / 140580759 87.8508% GBP250,000,000 1.394% 60 bps 2.004% 107.416%
----------- -------------- --------- --------------- ------------- --------- --------- ---------
2028 Notes XS1347435577 0.00% Nil - - - -
/ 134743557
* The Final Acceptance Amount represents an increase over the
originally targeted Final Acceptance Amount.
The Offeror will also pay an Accrued Interest Payment in respect
of Notes accepted for purchase pursuant to the Offers.
For the purposes of calculating the Final Acceptance Amount, the
GBP/EUR Exchange Rate is GBP0.89164 = EUR1.00 and the GBP/USD
Exchange Rate is GBP0.7231 = U.S.$1.00.
The Settlement Date in respect of Notes accepted for purchase
pursuant to the Offers is expected to be 13 March 2018. Further
information:
BNP Paribas (Telephone: +44 20 7595 8668; Attention: Liability
Management Group; Email: liability.management@bnpparibas.com),
Citigroup Global Markets Limited (Telephone: +44 20 7986 8969;
Attention: Liability Management; Email:
liabilitymanagement.europe@citi.com), J.P. Morgan Securities plc
(Telephone: +44 20 7134 2468; Attention: Liability Management;
Email: emea_LM@jpmorgan.com) and UBS Limited (Telephone: +44 20
7568 2133; Attention: Liability Management Group; Email:
ol-liabilitymanagement-eu@ubs.com) are acting as Dealer Managers
for the Offers.
Lucid Issuer Services Limited (Telephone: + 44 20 7704 0880;
Attention: David Shilson / Arlind Bytyqi; Email:
nationwide@lucid-is.com) is acting as Information and Tender Agent
for the Offers.
MARKET ABUSE REGULATION
This announcement is released by Nationwide Building Society and
contains information that qualified or may have qualified as inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 (MAR), encompassing information relating
to the Offers described above. For the purposes of MAR and Article
2 of Commission Implementing Regulation (EU) 2016/1055, this
announcement is made by Alex Wall, Head of Capital, Ratings &
Investor Relations of Nationwide Building Society.
DISCLAIMER This announcement must be read in conjunction with
the Tender Offer Memorandum. The Offers have now expired.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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