Alliander gets tenders for €412.71 million of hybrids issued in 2013

By Susanna Moon

Chicago, Feb. 9 – Alliander NV said investors had tendered €412,708,000 of its outstanding €500 million of hybrid eurobonds issued in 2013.

As announced Jan. 29, the company was tendering for the hybrids with a repurchase price to be calculated by reference to the repurchase yield of negative 25 basis points.

The price was set at 102.807% of par.

Holders will also receive accrued interest.

The offer ended at 11 a.m. ET on Feb. 5, with settlement on Feb. 8.

Alliander priced €500 million of 1.625% hybrid eurobonds on Jan. 30 with proceeds expected to be used to fund the bonds repurchase and for general corporate purposes, according to a company notice.

ING, Morgan Stanley, MUFG and Rabobank are the joint dealer managers for the tender offer.

Citibank is the tender agent.

The energy network company, which provides reliable, affordable and accessible energy transport and distribution is based in Arnhem, the Netherlands.

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