Macquarie Bank Announces Determination Of Total Consideration For Offer To Purchase For Cash Certain Of Its 6.625% Subordinated Medium-Term Notes, Series A, Due 2021 (The "Notes")
NEW YORK, June 16, 2016 /PRNewswire/ -- Macquarie Bank Limited (the "Bank"), a wholly-owned subsidiary of Macquarie Group Limited (ASX: MQG), announced that as of 2:00 p.m. today, the Reference Yield for the Notes tendered and accepted for purchase by the Bank pursuant to its cash tender offer (the "Tender Offer") for the Notes listed in the table below is 1.084%. Accordingly, Holders who tendered Notes accepted by the Bank will receive the Total Consideration of US$1,166.43 per US$1,000 principal amount of Note. The Total Consideration will include an Early Tender Premium of US$50 per US$1,000 principal amount. In addition to the Total Consideration, holders who tendered Notes accepted for purchase by the Bank will receive a cash payment representing accrued and unpaid interest thereon from the last interest payment or distribution date to, but not including, June 20, 2016 ("Accrued Interest").
The following table summarizes the material pricing terms for each US$1,000 aggregate principal amount of Notes:
Title of Securities |
CUSIP No. |
ISIN |
Aggregate |
Aggregate |
Clearing |
Reference |
Reference |
Total |
|
6.625% |
144A: Reg S: |
144A: Reg S: |
US$340,082,000 |
US$175,000,000 |
180 |
1.375% |
1.084% |
US$1,166.43 |
(1) |
As of June 16, 2016. Settlement of the purchase of the Notes by the Bank will be on June 20, 2016. |
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(2) |
The Base Spread of 225 basis points less the Clearing Spread Premium of 45 basis points. |
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(3) |
The Reference Yield and the Total Consideration were determined at 2:00 p.m., New York time, on June 16, 2016. |
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(4) |
Per US$1,000 principal amount of Notes accepted for purchase. Includes the Early Tender Premium but not Accrued Interest. |
The Tender Offer is described in the Offer to Purchase, dated June 2, 2016 (the "Offer to Purchase") and the related Letter of Transmittal, each previously sent to holders of the Notes. Notes tendered by holders and accepted for purchase will be subject to proration as described in the Offer to Purchase. Capitalized terms in this announcement have the same meaning as assigned to them in the Offer to Purchase.
The Bank has retained Citigroup Global Markets Inc. ("Citigroup") and J.P. Morgan Securities LLC ("J.P. Morgan") to act as Dealer Managers, D.F. King & Co., Inc. ("D.F. King") to act as Information Agent and D.F. King to act as Tender Agent, in each case in connection with the Tender Offer. For additional information regarding the terms of the Tender Offer, please contact Citigroup at +1 (800) 558-3745 or J.P. Morgan at +1 (866) 834-4666. Requests for documents and questions regarding the tendering of Notes may be directed to D.F. King by telephone at +1 (800) 283-2170 or by email at [email protected].
This announcement does not constitute an offer to participate in the Tender Offer. The Tender Offer is being made pursuant to the Offer to Purchase and the Letter of Transmittal, copies of which have been delivered to holders of the Notes, and which set forth the complete terms and conditions of the Tender Offer. Holders are urged to read the Offer to Purchase and the Letter of Transmittal carefully before making any decision with respect to their Notes. The Tender Offer is not being made to, nor will the Bank accept tenders of Notes from, holders in any jurisdiction in which it is unlawful to make such an offer or solicitation. None of the Bank, the Dealer Managers, the Information Agent, the Tender Agent or the fiscal agent for the Notes makes any recommendation as to whether holders should tender their Notes in response to the Tender Offer or at what bid spreads holders should tender their Notes.
Certain statements in this announcement, including those describing the completion of the Tender Offer, constitute forward-looking statements. These statements are not historical facts but instead represent only the Bank's belief regarding future events, many of which, by their nature, are inherently uncertain and outside the Bank's control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements.
Contact:
Angus Cameron
M: +61 (2) 8232 9992; E: [email protected]
Sarim Farooqi
M: +1 416 687 1088; E: [email protected]
SOURCE Macquarie Bank Limited
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