Auckland Council launches tender offer for 0.625% notes due 2024

By Marisa Wong

Los Angeles, Feb. 28 – Auckland Council announced a cash tender offer for any and all of its outstanding €500 million 0.625% fixed-rate notes due Nov. 13, 2024 (ISIN: XS1716946717).

The issuer is offering a purchase price of 98.2, plus accrued interest.

The offer is subject to a new financing condition. The company announced on Wednesday plans to issue a new series of euro-denominated fixed-rate notes under its $10 billion secured medium-term note program.

Holders who participate in the tender offer and wish to subscribe for the new notes may be given priority in the allocation of the new notes.

The tender offer expires at 11 a.m. ET on March 8.

Results are expected to be announced on March 11.

Settlement is slated for March 19.

The dealer managers are Citigroup Global Markets New Zealand Ltd. (+44 20 7986 8969; liabilitymanagement.europe@citi.com) and HSBC Continental Europe (+44 20 7992 6237, +852 3941 0223; liability.management@hsbcib.com).

The information and tender agent is Kroll Issuer Services Ltd. (+852 2281 0114, +44 20 7704 0880; aucklandcouncil@is.kroll.com; attn.: Mu-yen Lo / Kevin Wong; https://deals.is.kroll.com/aucklandcouncil).

The issuer is the local government council for the Auckland Region in New Zealand.

© 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.