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Iccrea Banca accepts tenders for €193.43 million of 1½% notes due 2022
By Marisa Wong
Los Angeles, Nov. 16 – Iccrea Banca SpA announced the results of its tender offer to purchase for cash any and all of its €600 million 1½% notes due Oct. 11, 2022 (ISIN: XS1696459731).
The offer began on Nov. 8 and expired at 11 a.m. ET on Nov. 15.
Iccrea will accept for purchase all €193,428,000 of tendered notes at 101.577.
The purchase price was calculated based on a purchase yield of negative 0.25%.
The company will also pay accrued interest to but excluding the settlement date, which is expected to be Nov. 17.
After settlement, €406,572,000 of the notes will remain outstanding.
The company previously announced that it intends to issue, subject to market conditions, a series of new euro-denominated fixed-rate notes under its €3 billion euro medium-term note program.
The tender offer is conditioned on the issue and settlement of the new notes.
When consideration allocation of the new notes, the company may give preference to noteholders who participate in the tender offer.
The dealer managers for the tender offer are Citigroup Global Markets Ltd. (+44 20 7986 8969, liabilitymanagement.europe@citi.com), Intesa Sanpaolo SpA Divisione IMI CIB (+39 02 7261 4704, IMIliability.management@intesasanpaolo.com), Mediobanca – Banca di Credito Finanziario SpA (+39 02 8829 240, MB_DCM_FIG_MTN@mediobanca.com, MB_Liability_Management_FIG@mediobanca.com), Raiffeisen Bank International AG (+43 1 71707 1039, rbi-tm@rbinternational.com) and UBS Europe SE (+44 20 7568 1121, ol-liabilitymanagement-eu@ubs.com).
Lucid Issuer Services Ltd. (+44 20 7704 0880, iccreabanca@lucid-is.com) is the tender agent.
The bank is based in Rome.
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