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Barclays tallies results in one-week tender for eight series of notes
By Wendy Van Sickle
Columbus, Ohio, Sept. 28 Barclays plc announced the results in tender offers for eight series of notes issued by Barclays Bank plc.
The tender offers opened on Sept. 20 and expired at 5 p.m. ET on Sept. 27, with settlement expected on Sept. 30.
According to a news release, the company received and will accept the following amounts of tendered notes:
32 million of the 100 million of subordinated floating-rate notes due 2040 for which it will pay 67.5% of par;
£2,325,000 of its £36,244,000 of 6.125% undated subordinated notes for which it will pay 108.5% of par;
$3,503,000 of its $182,133,000 of 6.86% callable perpetual core tier one notes for which it will pay 117% of par;
$71,055,000 of its $202,985,000 of junior undated floating-rate notes for which it will pay 70% of par;
$168.79 million of its $335.43 million of undated floating-rate primary capital notes for which it will pay 70% of par;
$119.43 million of its $414.63 million of undated floating-rate primary capital notes series 2 for which it will pay 70% of par; and
£124.5 million of its £145 million of undated floating-rate primary capital notes series 3 for which it will pay 80% of par.
£181,679,000 of its £455,408,000 of 5.75% subordinated notes due 2026 for which it will pay 124.432% of par.
The company will also pay accrued interest on each series of notes.
The offers are were made as part of the group's ongoing liability management, with the intention of supporting its ongoing transition to a holding company capital and term funding model in line with regulatory requirements, according to a previous company announcement.
Aside from the offers, and as part of the group's transition to a holding company capital and term funding model, Barclays plc said it plans to continue issuing senior unsecured and subordinated liabilities in all major currency markets, but the offers are not contingent on any of those issues.
The dealer manager is Barclays (+44 0 20 3134 8515, 212 528-7581, 800 438-3242 or liability.management@barclays.com). The tender agent is Lucid Issuer Services Ltd. (+44 20 7704 0880, fax +44 20 7067 9098 or barclays@lucid-is.com).
Barclays is a financial services company based in London.
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