| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers B > Headlines for BNP Paribas SA > News item |
SNAM holders tender 2.16 billion of notes; BNP accepts 1 billion
By Angela McDaniels
Tacoma, Wash., Nov. 11 Holders tendered 2,160,963,000 principal amount of SNAM SpAs notes, and BNP Paribas SA has accepted 999,998,000 principal amount of those notes for purchase, according to an announcement from BNP Paribas.
BNP Paribas began tender offers for up to 1 billion principal amount of the notes on Nov. 3. The offers ended on Nov. 10, and the settlement date is expected to be Nov. 16.
BNP Paribas accepted
300,009,000 of SNAMs 1 billion 4.375% notes due July 11, 2016 for a pro ration factor of 69.33%;
250,085,000 of its 1.25 billion 2.375% notes due June 30, 2017 for a pro ration factor of 35.075%;
299,954,000 of its 1.5 billion 3.875% notes due March 19, 2018 for a pro ration factor of 49.50%; and
149.95 million of its 1 billion 5% notes due Jan. 18, 2019 for a pro ration factor of 40.59%.
The purchase price is 102.845 for the 4.375% notes, 103.848 for the 2.375% notes, 108.913 for the 3.875% notes and 114.918 for the 5% notes.
The purchase price for the 3.875% notes was set Nov. 11 by reference to the interpolated reference rate and a spread of 10 basis points. The purchase yield is 0.06%.
The purchase price for the 5% notes was set Nov. 11 by reference to the interpolated reference rate and a spread of 25 bps. The purchase yield is 0.271%.
The dealer managers are Barclays Bank plc (44 (0)20 3134 8515 or eu.lm@barclays.com), BNP Paribas (44 20 7595 8668 or liability.management@bnpparibas.com), J.P. Morgan Securities plc (44 (0)207 134 3438 or emea_lm@jpmorgan.com) and UniCredit Bank AG (39 02 8862 0581, 49 89 3781 3722, dcmcorpitaly.uc@unicredit.eu or corporate.lm@unicredit.de).
The tender agent is Lucid Issuer Services Ltd. (44 20 7704 0880 or snam@lucid-is.com).
SNAM is a natural gas infrastructure company based in San Donato Milanese, Italy. BNP Paribas is a financial services company based in Paris.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.