Macquarie Bank to buy back €145.6 million 6% bonds at 118.822 in offer

By Susanna Moon

Chicago, Dec. 2 – Macquarie Bank Ltd. said holders had tendered €145.6 million of its outstanding €600 million of 6% subordinated debt instruments due Sept. 21, 2020.

Macquarie Bank accepted all of the tendered notes for purchase with no scaling, according to a company notice.

The purchase price was set at 118.822% of par using a purchase yield of 1.861%.

Pricing was set at 6 a.m. ET on Dec. 2 using the interpolated mid-swap rate plus a purchase spread of 175 basis points.

The bank will also pay accrued interest of 1.21311%.

Macquarie Bank said on Nov. 24 that it was tendering for €200 million of its outstanding notes.

The tender offer ended at 11 a.m. ET on Dec. 1, with settlement set for Dec. 4.

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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