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Arion Bank accepts 73.307% of 3.125% notes due 2018 in tender offer
By Susanna Moon
Chicago, June 27 – Arion Bank hf said investors had tendered €137.61 million of its €300 million 3.125% notes due 2018.
Arion will purchase €100 million of the notes using a pro rata scaling factor of 73.307%, according to a bank notice.
The bank said on June 19 that it was tendering for up to €100 million of the notes until 11 a.m. ET on June 26 at a purchase price of 102.264% of par assuming a settlement date of June 29.
Pricing will be set using a fixed purchase yield of negative 0.1%.
The bank will also pay accrued interest.
The tender offer was contingent on the issue of euro-denominated fixed-rate notes.
The dealer managers are Goldman Sachs International (+44 20 7774 9862 or liability.management.eu.gs.com), J.P. Morgan Securities plc (+44 20 7134 2468 or emea_lm@jpmorgan.com), Nomura International plc (+44 20 7103 6597 or liability.mangement@nomura.com) and UBS Ltd. (+44 20 7568 2133 or ol-liabilitymanagement-eu@ubs.com). The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880 or arionbank@lucid-is.com).
Arion is a Reykjavik, Iceland-based bank.
© 2015 Prospect News.
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