Alliander tenders for €500 million hybrid eurobonds issued in 2013

By Wendy Van Sickle

Columbus, Ohio, Jan. 29 – Alliander NV launched a tender offer for any and all of its outstanding €500 million of hybrid eurobonds issued in 2013, according to a company notice.

The repurchase price will be calculated by reference to the repurchase yield of negative 25 basis points.

Alliander will also pay accrued interest.

The offer expires at 11 a.m. ET on Feb. 5, with results expected on Feb. 6 and settlement on Feb. 7.

The tender offer is being made as part of Alliander’s balance sheet management, according to the notice.

The offer will be funded by an issue of new hybrid eurobonds, the proceeds of which will also be used for general corporate purposes.

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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