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Pin to quick picksUlster Bk.11.75 Regulatory News (FAP)

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Ulster Bank Ireland DAC Tender Offer Results

Wed, 27th Sep 2017 16:55

RNS Number : 0152S
Ulster Bank Ireland DAC
27 September 2017

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT. 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.

ULSTER BANK IRELAND DAC

ANNOUNCES RESULTS OF CASH TENDER OFFERS

27 September 2017 - Ulster Bank Ireland DAC (the "Offeror") announces the final results of the cash tender offers (the "Offers") for the bonds set out in the table below (the "Bonds"). The Offers were made on, and remain subject to, the terms and conditions set forth in the tender offer memorandum dated 29 August 2017 (the "Tender Offer Memorandum"). Capitalised terms used but not defined herein shall have the meanings given to them in the Tender Offer Memorandum.

The Offers expired at 11:00 a.m. (London time) / 6:00 a.m. (New York City time) on 27 September 2017. The aggregate principal amount of each series of Bonds validly tendered and accepted for purchase is set out below:

Title of Bond

ISIN

Amount accepted for purchase

Amount remaining outstanding after the Settlement Date

Purchase

Price

Minimum Denomination

Accrued Interest per Minimum

Denomination

STG £5,000,000 Floating Rate Subordinated Bonds

IE0004325282

STG 168,000

STG 1,148,000

50.0 per cent.

STG 1,000

STG 15.37

IEP £30,000,000 11.375% Subordinated Bonds

IE0004325399

EUR 6,938,030.85

EUR 31,154,111.15

160.5 per cent.

EUR 12,697.38

EUR 553.40

STG £20,000,000 11.75% Subordinated Bonds

IE0004325514

STG 8,547,000

STG 11,453,000

158.5 per cent.

STG 10,000

STG 450.20

The Offeror has accepted for purchase all Bonds validly offered for purchase. The Offeror expects to make payment to the Registrar for all Bonds accepted for purchase pursuant to the Offers on the Settlement Date, which is expected to be 29 September 2017, for prompt onward payment to the Bondholders. Bonds that have not been accepted for purchase by the Offeror will remain outstanding following the Settlement Date. All Bonds accepted for purchase will be cancelled.

Further Information

The Offeror has retained The Royal Bank of Scotland plc (trading as NatWest Markets), an affiliate of the Offeror, to act as Dealer Manager for the Offers and Computershare Investor Services (Ireland) Limited to act as Registrar.

Any questions in relation to the Offers may be directed to:

Catherine Corbett

Head of Term Funding & Money Markets

Ulster Bank Ireland DAC

George's Quay

Dublin 2

Telephone: +353(0)1 6085377

Scott Forrest

Head of Debt Capital Markets & Capital Strategy

The Royal Bank of Scotland Group plc

250 Bishopsgate

London EC2M 4AA

Telephone: +44 (0) 20 7678 5313

The Royal Bank of Scotland plc (trading as NatWest Markets), as Dealer Manager

250 Bishopsgate

London EC2M 4AA

Telephone: +44 20 7678 5405

Attention: Liability Management

Email: LiabilityManagement@natwestmarkets.com

This announcement is released by the Offeror 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 Brian Lynch, Group Treasurer for Ulster Bank Ireland DAC.

Legal Entity Identifier: 635400KQIMALJ4XLAD78

This information is provided by RNS
The company news service from the London Stock Exchange
END
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Date   Source Headline
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23rd Jan 20187:00 amRNSDeclaration of a Dividend
27th Sep 20174:55 pmRNSUlster Bank Ireland DAC Tender Offer Results
29th Aug 201711:11 amRNSUlster Bank Ireland DAC - Cash Tender Offers
31st May 20162:21 pmRNSChange of Name

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