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UBI Banca holders tender €70.35 million callable step-up floaters
By Susanna Moon
Chicago, Sept. 18 - Unione di Banche Italiane ScpA, also known as UBI Banca, said holders tendered €70.35 million of its €300 million callable step-up floating-rate subordinated notes due 2018.
The company offered to purchase the notes at 93% of par, according to a bank press release.
The tender offer ended at 11 a.m. ET on Sept. 17. The offer began Sept. 9.
After settlement on Sept. 24, there will be €111.3 million of the bonds left outstanding.
The bonds were issued Oct. 30, 2006.
The bank also will pay accrued interest to but excluding the settlement date, which will be €56.47 for each €50,000 of notes.
Societe Generale (attn: liability management, +44 20 7676 7579 or email liability.management@sgcib.com) is the dealer manager. Lucid Issuer Services Ltd. (attn.: Paul Kamminga/Thomas Choquet, +44 (0) 20 7704 0880 or email ubibanca@lucid-is.com) is the tender agent.
The company was formerly Banche Popolari Unite Scpa.
UBI Banca is a Bergamo, Italy-based banking group.
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