BNP Paribas accepts €282.3 million of Enagas’ 4¼% notes in tender

New York, Feb. 2 – BNP Paribas said it accepted tenders for €282.3 million of the €750 million 4¼% guaranteed notes due Oct. 5, 2017 issued by Enagaas Financiaciones, SAU and guaranteed by Enagas, SA.

All valid tenders were accepted, BNP said.

BNP also set pricing in the tender at 110.962% of par, according to a notice from BNP.

Pricing was set at 5 a.m. ET on Feb. 2 using the interpolated mid-swap rate minus 5 basis points.

Holders also will receive accrued interest up to but excluding the settlement date of Feb. 4.

Following completion of the offer, €467.7 million of the notes will remain outstanding.

The tender ended at 11 a.m. ET on Jan. 30.

BNP announced the tender on Jan. 23, saying it would buy up to €250 million of the 4¼% notes.

The issuer plans to issue euro-denominated fixed-rate notes under its €4 billion guaranteed euro medium term note program, BNP said.

BNP said that notes purchased under the offer will be transferred to the issuer in exchange for part of the issue of the new notes and in part for cash.

The tender offer is conditioned on the pricing of the new notes and the signing of the subscription agreement, the release noted.

The dealer managers are BNP Paribas (+44 20 7595 8668 or liability.management@bnpparibas.com), Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com).

The tender agent is Lucid issuer Services Ltd. (+44 20 7704 0880 or enagas@lucid-is.com).

Enagas is a Madrid-based company active in the energy sector.

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