Raiffeisenlandesbank tenders for all €300 million of 5.875% notes

By Sarah Lizee

Olympia, Wash., Sept. 3 – Raiffeisenlandesbank Niederosterreich-Wien AG launched a cash tender offer for all of its outstanding €300 million 5.875% subordinated notes due Nov. 27, 2023.

The offer will expire at 11 a.m. ET on Sept. 10.

The tender offer consideration will be set using the November 2023 interpolated mid-swap rate plus a spread of 250 basis points. Pricing will be determined on Sept. 11.

Holders will also receive accrued interest.

Settlement is scheduled for Sept. 13.

Credit Agricole CIB (+44 20 7214 5903 or liability.management@ca-cib.com) and J.P. Morgan Securities plc (+44 20 7134 2468 or emea_lm@jpmorgan.com) are acting as dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880 or rlbnow@lucid-is.com) is acting as tender agent.

The issuer is a cooperative bank based in Austria.

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