Vattenfall buys back £60.98 million of 6.125% notes due 2019 in offer

By Susanna Moon

Chicago, March 18 – Vattenfall AB said it will accept for purchase tenders for £60,984,000 principal amount of its £350 million 6.125% notes due 2019.

Vattenfall was tendering for up to £150 million of the notes, as announced March 11, and accepted all of the tendered notes for purchase with no proration applied.

The purchase price was set 115.502% using a repurchase yield of 1.783% and a reference yield of 0.533%, according to a company notice.

Pricing was set at 6 a.m. ET on March 18 by using the 3.75% U.K. Treasury Gilt due 2019 plus a purchase spread of 125 basis points.

Holders will also receive accrued interest.

The tender offer ended at noon ET on March 17 with settlement set for March 23.

The dealer manager is J.P. Morgan Securities plc (+44 207 134 2468 or emea_lm@jpmorgan.com). The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880 or vattenfall@lucid-is.com).

Vattenfall is a Stockholm-based energy company.

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