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Published on 10/27/2015 in the Prospect News Liability Management Daily.

BFCM accepts tenders for €168.53 million of undated fixed-to-floaters

By Wendy Van Sickle

Columbus, Ohio, Oct. 27 – Banque Federative du Credit Mutuel said it accepted for purchase €168,517,000 of its undated deeply subordinated fixed-to-floating notes issued April 28, 2005 in a tender offer that expired at 10 a.m. ET on Monday.

At the start of the offer, €403,896,000 principal amount of the notes was outstanding.

The bank will pay par of $1,000 plus accrued interest to but excluding the settlement date of Oct. 28, which it said amounts to 4.471%.

The Strasbourg, France-based bank announced the tender on Oct. 16.

The dealer manager is Barclays Bank plc (+44 20 3134 8515 or eu.lm@barcap.com). The tender and information agent is BNP Paribas Securities Services, Luxembourg Branch (+352 26 96 62 301 or lu_bp2s_offer@bnpparibas.com).


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