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OneSavings says all £60 million perpetuals tendered under offer
By Rebecca Melvin
Concord, N.H., Oct. 5 – OneSavings Bank plc announced the results of its Sept. 27 cash tender offer for any and all of its outstanding £60 million fixed-rate resetting perpetual subordinated contingent convertible securities with a first call date on May 25, 2022 (ISIN: XS1617418501), according to a press release.
As of the expiration at 11 a.m. ET on Oct. 4, all of the outstanding amount was validly tendered and the company has decided to accept all of the tendered securities for the purchase price of 105.75 plus accrued interest.
The offer is expected to settle on Oct. 7 at which time all of the securities are expected to be canceled.
As previously reported, the purpose of the offer was to provide liquidity for investors and to proactively manage the refinancing of the securities in conjunction with an issue of new additional tier 1 securities by OSB Group plc.
NatWest Markets plc (44 20 7678 5222; liabilitymanagement@natwestmarkets.com) is the dealer manager and Lucid Issuer Services Ltd. (44 20 7704 0880; osb@lucid-is.com) is the tender agent.
The banking services company is based in Kent, England.
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