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LANDSBANKINN HF. (IRSH)

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Wednesday 19 February, 2020

LANDSBANKINN HF.

LANDSBANKINN HF. Announces tender offer results

RNS Number : 4629D
LANDSBANKINN HF.
19 February 2020
 

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIES OR MAY QUALIFY AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT.

19 February 2020

LANDSBANKINN HF.
(incorporated with limited liability in Iceland)
(the   " Offeror ")

announces the results of a tender offer
to the holders of its €500,000,000 1.625 per cent. Notes due 2021 (the "ExistingNotes")
to tender their Existing Notes for purchase by the Offeror for cash up to €300,000,000 in aggregate nominal amount of the Existing Notes subject to the satisfaction of the New Issue Condition
(the "Offer")

 

Capitalised terms used in this announcement shall have the meaning given to them in the tender offer memorandum dated 11 February 2020 (the "TenderOffer Memorandum") unless defined otherwise herein.

On 11 February 2020, the Offeror announced the launch of the Offer to, all eligible holders (the "Noteholders") of its outstanding Existing Notes to tender their Existing Notes for purchase by the Offeror for cash up to the Maximum Acceptance Amount, subject to the satisfaction or waiver of the New Issue Condition. The Offer was made on the terms and subject to the conditions set forth in the Tender Offer Memorandum.

The Tender Offer expired at 4.00 p.m. (London time) on 18 February 2020.

Results of the Offer

Subject to satisfaction or waiver of the New Issue Condition on or prior to the Settlement Date, the Offeror is pleased to announce the results of the Offer and acceptance of the valid tenders of Existing Notes pursuant to the Offer as follows:

Existing Notes

 

Aggregate nominal amount of Existing Notes validly tendered pursuant to the Offer

 

Final Acceptance Amount

Pro-Ration Factor

Purchase Yield

Purchase Price

Aggregate nominal amount of Existing Notes outstanding after the Settlement Date

€500,000,000 1.625 per cent. Notes due 2021 (ISIN: XS1490640288)

€360,200,000

€300,000,000

84.51927 per cent.

-0.20 per cent.

101.944 per cent.

€200,000,000

 

 

Settlement Date

The Settlement Date is expected to be 21 February 2020. Subject to satisfaction or waiver of the New Issue Condition (completion of the issue of the New Notes is expected to occur on 20 February 2020) on the Settlement Date, the Offeror shall pay to the relevant Noteholders the Purchase Price and Accrued Interest in respect of the Existing Notes accepted for purchase.

Existing Notes accepted for purchase will be cancelled and not re-issued or re-sold. Existing Notes that have not been tendered or accepted for purchase pursuant to the Offer will remain outstanding.

Contact Information

Barclays Bank PLC, J.P. Morgan Securities plc and Merrill Lynch International are acting as Dealer Managers for the Offer and Lucid Issuer Services Limited is acting as Tender Agent.

 

DEALER MANAGERS

Barclays Bank PLC
5 The North Colonnade
Canary Wharf
London E14 4BB
United Kingdom

Attention: Liability Management Group
Telephone: +44 20 3134 8515
Email:
[email protected]

J.P. Morgan Securities plc
25 Bank Street
London E14 5JP
United Kingdom


Attention: Liability Management
Telephone: +44 207 134 2468
Email: [email protected]

Merrill Lynch International
2 King Edward Street
London EC1A 1HQ
United Kingdom


Attention: Liability Management Group
Telephone: +44 (0) 20 7996 5420
Email: [email protected]

TENDER AGENT

Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom

Attention: Thomas Choquet
Telephone:
+44 20 7704 0880
Email: landsbankinn
@lucid-is.com

DISCLAIMER   This announcement must be read in conjunction with the Tender Offer Memorandum. If any Noteholder is in any doubt as to the content of this announcement or the Tender Offer Memorandum or the action it should take, it is recommended to seek its own financial advice, including in respect of any tax consequences, from its broker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser.

This announcement is released by Landsbankinn hf. 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 Offer described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Hreiðar Bjarnason, Chief Financial Officer for Landsbankinn hf.

 

 

 

 

 

 

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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