Published on 1/17/2012 in the Prospect News Liability Management Daily.
Banco BPI gets tenders for €290.7 million mortgage-backed floaters
By Marisa Wong
Madison, Wis., Jan. 17 - Banco BPI SA announced the results of the cash tender offer for 10 series of mortgage-backed floating-rate securitization notes that began on Jan. 5. As of Jan. 13, the expiration of the tender offer, €290,695,000 original principal amount, or €149,267,563.83 amortized principal amount outstanding, of the notes had been tendered.
The notes tendered in the offer are listed in the table below. The Douro No. 1 notes are due in 2056, the Douro No. 2 notes are due in 2059, and the Douro No. 3 notes are due in 2060.
The purchase price and interest are based on €50,000 principal amount of notes tendered by the expiration date.
As previously reported, settlement is expected to occur on Jan. 18.
Banco BPI (+351 213101170 or debtcapitalmarkets@bancobpi.pt), Citigroup Global Markets Ltd. (+44 (0) 20 7986 8969 or liabilitymanagement.europe@citi.com) and Deutsche Bank AG, London Branch (+44 (0) 20 7545 8011 or liability.management@db.com) were the dealer managers.
The tender agent was Banco BPI (+351 222075803, +351 222075832 or corporate.actions@bancobpi.pt).
Banco BPI is a Porto, Portugal-based commercial bank.
| Notes | Principal amount tendered | Amount outstanding tendered | Pool factor | Purchase price | Interest
|
|
|
| Douro No. 1
|
| €1,434,000,000 class A notes | €8.55 million | €2,939,401.08 | 0.3437897 | 65% | €20.83
|
| €24.75 million class B notes | €0.00 | €0.00 | 0.4214816 | 52% | €26.03
|
| €22.5 million class C notes | €8.75 million | €3,687,964.00 | 0.4214816 | 45% | €27.67
|
| €18.75 million class D notes | €7.65 million | €3,224,334.24 | 0.4214816 | 37% | €30.95
|
|
|
| Douro No. 2
|
| €315 million class A1 notes | €42.56 million | €878,416.36 | 0.0206395 | 65% | €4.16
|
| €1,125,000,000 class A2 notes | €102,185,000 | €59,686,316.12 | 0.5841006 | 65% | €124.33
|
| €27.75 million class B notes | €4 million | €2,336,402.25 | 0.5841006 | 50% | €126.50
|
| €18 million class C notes | €3 million | €1,752,301.69 | 0.5841006 | 40% | €130.83
|
| €14,250,000 class D notes | €1.9 million | €1,109,791.07 | 0.5841006 | 35% | €148.88
|
|
|
| Douro No. 3
|
| €1,441,500,000 class A notes | €112.1 million | €73,652,637.02 | 0.6570262 | 65% | €85.74
|
© 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.
