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Barclays accepts tenders for $1.45 billion 6.75% notes, 5.125% notes
By Susanna Moon
Chicago, Sept. 18 - Barclays Bank plc said it accepted tenders for $402,022,000 of its $2 billion 6.75% senior notes due 2019 and $1,049,637,000 of its $2,824,000,000 5.125% senior notes due 2020 in the tender offers that ended at 11:59 p.m. ET on Sept. 17.
For each $1,000 principal amount, the bank will pay $1,205.57 for the 6.75% notes and $1,121.48 for the 5.125% notes. The reference yield was 1.842% for both.
Pricing was set at 2 p.m. ET on Sept. 17 using the 1.842% U.S. Treasury note plus a fixed spread of 145 basis points for the 6.75% notes and plus 140 bps for the 5.125% notes.
Barclays is also tendering for its €1,951,533,000 of 4.875% notes due 2019 and its £723,574,000 of 5.75% notes due 2021. Pricing will be set using the euro interpolated mid-swap rate plus a spread of 85 bps for the former and the sterling interpolated mid-swap rate plus 140 bps for the latter.
The offers for the remaining notes were scheduled to end at 6 p.m. ET on Sept. 17. They all began on Sept. 10.
The other notes were set to price at 9 a.m. ET on Sept. 18.
The company will also pay accrued interest up to but excluding the settlement date, which is expected to be Sept. 20.
For the dollar-denominated notes, the dealer manager is Barclays (212 528-7581, 800 438-3242 or liability.management@barclays.com), and the tender agent is Global Bondholder Services Corp. (212 430-3774, 866 937-2200 or Info@gbsc-usa.com). For the other notes, the dealer manager is Barclays Bank (44 (0)20 7773 8990 or liability.management@barclays.com), and the tender agent is Lucid Issuer Services Ltd. (44 (0)20 7704 0880, Attention: Thomas Choquet/Yves Theis, or barclays@lucid-is.com).
Barclays is a banking and financial services company based in London.
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