Schiphol marks €382 million of tenders in oversubscribed offer

By Jennifer Chiou

New York, Dec. 14 - Schiphol Nederland BV announced that it obtained tenders from holders of €382 million, or 47.8%, of its €800 million of 6.625% guaranteed notes due Jan. 23, 2014 in the offer for up to €150 million of the securities.

The notes are guaranteed by NV Luchthaven Schiphol under the company's €2 billion euro medium-term note program.

Because the tenders exceeded the cap, the proration factor is 39.02%.

The purchase price is €1,128.85 per €1,000 principal amount, or 112.885% of par, plus accrued interest of 5.953%. The repurchase spread was 25 basis points, and the repurchase yield was 2.273%.

Deutsche Bank AG, London Branch, ING Bank NV and the Royal Bank of Scotland plc were the joint dealer managers. Lucid Issuer Services Ltd. was the tender agent.

Schiphol is the international airport of the Netherlands.

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