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Skipton Building gives results of tender offer for 1.75% notes due 2022
Chicago, July 2 – Skipton Building Society announced the results of its cash tender offer for any and all of its £350 million 1.75% notes due 2022 (ISIN: XS1640528854), according to an exchange notice.
As of the expiration time of 11 a.m. ET on July 1, noteholders had tendered £283,424,000 principal amount of the notes.
All notes tendered will be accepted for purchase at 101.62 plus interest.
Pricing was set at 6 a.m. ET on July 2 using the 4% U.K. Treasury gilt due March 2022 plus 100 basis points.
The benchmark security rate was negative 0.076% for a purchase yield of 0.924%.
Settlement is expected for July 6.
The dealer managers are Banco Santander, SA (+44 7418 709 688, +44 7742 403 679, tommaso.grospietro@santanderCIB.co.uk, adam.crocker@santandercib.co.uk) and Lloyds Bank Corporate Markets plc (+44 20 7158 1719/1726, liability.management@lloydsbanking.com).
The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, skipton@lucid-is.com).
The building society is based in Skipton, England.
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