Published on 3/19/2012 in the Prospect News Liability Management Daily.
Bankia tenders for €1 billion asset-backed securities by Dutch auction
By Susanna Moon
Chicago, March 19 - Bankia, SA said it began a tender offer for up to €1 billion of its outstanding asset-backed securities with pricing to be set under a modified Dutch auction.
The issuers are Madrid RBMS, Fondo de Titulizacioon de Activos; Bancaja Fondo de Titulizacion de Activos; and MBS Bancaja Fondo de Titulizacion de Activos.
Notes may be purchased on a prorated basis if the amount of tendered notes exceeds the offer cap, according to a press release by the Madrid-based bank.
The offer will end at 11 a.m. ET on March 26. Settlement is slated for March 30.
The offers are being made as part of the bank's active management of its outstanding liabilities and capital and is designed to provide liquidity to holders of the securities, the release said.
The bank said it expects these offers to optimize its liabilities structure in the new regulatory capital markets environment.
Bankia, SA, Deutsche Bank AG, London Branch, J.P. Morgan Securities Ltd and UBS Ltd. are the dealer managers.
Questions may be directed to the tender agent at bankia@lucid-is.com or +44 0 20 7067 9098, attn: David Shilson / Sunjeeve Patel.
| Issuer | Series | Pool factor | Current denomination | Minimum price | Outstanding amount
|
| Madrid RBMS, Fondo de Titulizacioon de Activos
|
| RBMS I | A2 | 1.34 billion | 0,63555710 | €63,555.71 | 77% | €851,646,514.00
|
| RBMS II | A2 €936 million | 0,51300930 | €51,300.93 | 87% | €480,176,704.80
|
| RBMS II | A3 €270 million | 1,00000000 | €100,000 | 62% | €270,000,000.00
|
| RBMS III | A2 €1,575,000,000 | 0,61382780 | €61,382.78 | 83% | €966,778,785.00
|
| RBMS III | A3 €497 million | 1,00000000 | €100,000 | 65% | €497,000,000.00
|
|
|
| Bancaja Fondo de Titulizacion de Activos
|
| Bancaja 7 | A2 €1,670,200,000 | 0,33529340 | €33,529.34 | 84% | €560,007,036.68
|
| Bancaja 8 | A €1,561,700,000 | 0,35984560 | €35,984.56 | 84% | €561,970,873.52
|
| Bancaja 9 | A2 €1.7 billion | 0,50991830 | €50,991.83 | 82% | €866,861,110.00
|
| Bancaja 10 | A2 €1,537,000,000 | 0,65175890 | €65,175.89 | 81% | €1,001,753,429.30
|
| Bancaja 10 | A3 €500 million | 0,97199770 | €97,199.77 | 60% | €485,998,850.00
|
| Bancaja 11 | A2 €1,193,000,000 | 0,72416020 | €72,416.02 | 80% | €863,923,118.60
|
| Bancaja 11 | A3 | 440 million | 0,92043440 | €92,043.44 | 65% | €404,991,136.00
|
|
|
| MBS Bancaja Fondo de Titulizacion de Activos
|
| Bancaja 1 | A €630.6 million | 0,16625480 | €16,625.48 | 91% | €104,840,276.88
|
| Bancaja 2 | A €754.4 million | 0,29545970 | €29,545.97 | 86% | €222,894,797.68
|
| Bancaja 3 | A2 €668 million | 0,50552190 | €50,552.19 | 83% | €337,688,629.20
|
| Bancaja 4 | A2 €1,182,100,000 | 0,56726650 | €56,726.65 | 74% | €670,565,729.65
|
| Bancaja 4 | A3 €300 million | 1,00000000 | €100,000 | 80% | €300,000,000.00
|
© 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.
