Goldman Sachs tenders for $2.75 billion 6.345% capital securities

By Toni Weeks

San Luis Obispo, Calif., May 29 - Goldman Sachs Group, Inc. announced the start of a cash tender offer for any and all of its outstanding $2.75 billion liquidation amount of 6.345% capital securities issued by Goldman Sachs Capital I.

For each $1,000 liquidation amount of capital securities, holders will receive an amount intended to result in a yield to maturity equal to the sum of the yield to maturity of the 3.625% U.S. Treasury bond due Feb. 15, 2044 as of 2 p.m. ET on June 11 and a fixed spread of 190 basis points.

Holders will also receive accrued interest up to, but not including, the settlement date.

The offer will expire at 5 p.m. ET on June 11. Tendered securities may be withdrawn at any time prior to that.

Goldman Sachs & Co. (800 828-3182 or 212 902-5183) is the dealer manager. Global Bondholder Services Corp. (866 470-3800 or 212 430-3774) is the depositary and information agent.

The investment banking, securities and investment management firm is based in New York.

© 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.