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Northern Rock investors tender £6.35 million 12 5/8% perpetual notes
By Devika Patel
Knoxville, Tenn., Dec. 9 - Northern Rock (Asset Management) plc said investors surrendered £6,345,779 of 12 5/8% perpetual subordinated notes as part of a cash tender offer for £20 million of the notes.
The offer launched on Nov. 9 and expired at 10 a.m. ET on Dec. 3. It is expected to settle on Dec. 10.
The company will pay £330 for each £1,000 principal amount of notes.
Deutsche Bank AG, London Branch, (+44 20 7545 8011) and Royal Bank of Scotland plc (+44 20 7085 1217 or +44 20 7085 9178) were the dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880) was the tender and information agent. Capita Registrars Ltd. (+44 20 8639 3399) was the receiving agent.
Northern Rock is a Newcastle, England-based state-owned bank.
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