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Barclays accepts tenders for $763.65 million of 4.375% notes due 2024
By Mary-Katherine Stinson
Lexington, Ky., Dec. 18 – Barclays plc announced the results of its cash tender offer for any and all of its $1.25 billion outstanding 4.375% subordinated notes due 2024 (Cusip: 06738EAC9), according to a press release.
Barclays will accept all $763,648,000 of the tendered notes for purchase, including $504,000 of notes that remain subject to guaranteed delivery procedures.
The deadline for tenders under guaranteed delivery procedures is at 5 p.m. ET on Dec. 19.
As previously reported, the purchase price will be $994.59 per $1,000 principal amount, which was calculated using the 0.375% U.S. Treasury due Sept. 15, 2024 and a fixed spread of 0 basis points.
The issuer will also pay accrued interest.
Pricing was set at 2 p.m. ET on Dec. 15.
Tenders were revocable at any time prior to the expiration deadline at 5 p.m. ET on Dec. 15.
Settlement is slated for Dec. 20.
The offer was announced on Dec. 11.
The issuer said it made the offer as part of its ongoing management of its liabilities.
The offer was not conditioned on any future capital markets issuance.
Barclays (212 528-7581, 800 438-3242; us.lm@barclays.com) is the dealer manager. Global Bondholder Services Corp. (212 430-3774, 855 654-2014; fax 212 430-3775; contact@gbsc-usa.com) is the tender agent.
The bank is based in London.
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