Last checked at 29 Jun 2021 09:43
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Yorkshire Building Society announces the results of its Tender Offers in respect of its €750,000,000 1.250 per cent. Notes due 2022 (ISIN: XS1203856072) and €500,000,000 0.875 per cent. Notes due 2023 (ISIN: XS1793287472)
29 June 2021. On 21 June 2021, Yorkshire Building Society (the Society) announced separate invitations to eligible holders of its outstanding €750,000,000 1.250 per cent. Notes due 2022 (ISIN: XS1203856072) (the 2022 Notes) and €500,000,000 0.875 per cent. Notes due 2023 (ISIN: XS1793287472) (the 2023 Notes) (each, a Series and together, the Notes) to tender any and all of their Notes for purchase by the Society for cash (each such invitation, an Offer and together, the Offers).
The Offers were made on the terms and subject to the conditions (including the New Financing Condition) contained in a tender offer memorandum dated 21 June 2021 (the Tender Offer Memorandum) prepared by the Society, and subject to the offer restrictions set out in the Tender Offer Memorandum. 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 28 June 2021. The Society hereby announces the results of the Offers.
Results of the Offers
€266,536,000 in aggregate nominal amount of the 2022 Notes and €337,654,000 in aggregate nominal amount of the 2023 Notes were validly tendered for purchase in the Offers.
The Society announces that it accepts for purchase all such Notes validly tendered in the Offers, subject to satisfaction or waiver of the New Financing Condition on or prior to the Settlement Date.
The Purchase Price in respect of each Series is €1,012.47 per €1,000 in nominal amount of the 2022 Notes and €1,023.79 per €1,000 in nominal amount of the 2023 Notes.
The Settlement Date for the Offers is expected to be 1 July 2021.
Dealer Managers
Banco Santander +44 7418 709 688 / +44 7742 403 679
tommaso.grospietro@santandercib.co.uk / adam.crocker@santandercib.co.uk
Lloyds Bank Corporate Markets +44 (0) 20 7158 1719 / 1726
liability.management@lloydsbanking.com
NatWest Markets +44 20 7678 5222
liabilitymanagement@natwestmarkets.com
UBS +44 20 7568 1121
ol-liabilitymanagement-eu@ubs.com
Tender and Information Agent
Lucid Issuer Services Limited Arlind Bytyqi
+44 20 7704 0880
ybs@lucid-is.com
MARKET ABUSE REGULATION
This announcement is released by Yorkshire 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 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (the EUWA) (UK MAR), encompassing information relating to the Offers. For the purposes of UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it forms part of domestic law in the United Kingdom by virtue of the EUWA, this announcement is made by Duncan Asker, Director of Treasury of Yorkshire Building Society.
DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. Neither this announcement nor the Tender Offer Memorandum constitutes an offer to buy or the solicitation of an offer to sell any Notes (and tenders of Notes in the Offers will not be accepted from Noteholders) in any circumstances in which such offer or solicitation is unlawful. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and the Tender Offer Memorandum comes are required by each of the Society, the Dealer Managers and the Tender and Information Agent to inform themselves about, and to observe, any such restrictions. The Offers have now expired.