Raiffeisenlandesbank accepts tenders for €33.2 million of 2023 notes

By Marisa Wong

Los Angeles, Sept. 11 – Raiffeisenlandesbank Niederoesterreich – Wien AG said it has decided to accept €33.2 million of tendered 5.875% subordinated notes due Nov. 27, 2023 for purchase.

The bank launched on Sept. 3 a cash tender offer for all of its outstanding €300 million 5.875% notes due 2023. The offer expired at 11 a.m. ET on Sept. 10.

The notes will be purchased at a purchase price of €115,349 per €100,000 principal amount, plus accrued interest of €4,667.81 per note. The tender offer consideration was calculated using the November 2023 interpolated mid-swap rate plus a spread of 250 basis points. Pricing was determined at 5 a.m. ET on Sept. 11.

Settlement will be on Sept. 13.

Credit Agricole CIB (+44 20 7214 5903 or liability.management@ca-cib.com) and J.P. Morgan Securities plc (+44 20 7134 2468 or emea_lm@jpmorgan.com) are acting as dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880 or rlbnow@lucid-is.com) is acting as tender agent.

The cooperative bank is based in Vienna.

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