Macquarie Bank tenders for €200 million of 6% bonds due 2020

By Wendy Van Sickle

Columbus, Ohio, Nov. 24 – Macquarie Bank Ltd. said it began a tender offer for €200 million of its outstanding €600 million of 6% subordinated debt instruments due Sept. 21, 2020.

Pricing will be set at 6 a.m. ET on Dec. 2 using the purchase yield of the interpolated mid-swap rate plus a purchase spread of 175 basis points, according to a notice from the London Stock Exchange.

The bank will also pay accrued interest.

To participate, holders must tender their bonds by 11 a.m. ET on Dec. 1.

Settlement will occur on Dec. 4.

Tender instructions must be submitted in multiples of €50,000 principal amount.

Barclays Bank plc (+44 20 3134 8515 or eu.lm@barclays.com) and HSBC Bank plc (+44 20 7992 6237 or liability.management@hsbcib.com) are the dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880 or macquarie@lucid-is.com) is the tender agent.

The banking unit of Macquarie Group Ltd. is based in Sydney, Australia.

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