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BNP buys €284.8 million 4.375% notes issued by ESB in tender offer
By Susanna Moon
Chicago, June 10 – BNP Paribas SA announced the results of separate tender offers for the €600 million of 6.25% notes due Sept. 11, 2017 and the €500 million 4.375% notes due Nov. 21, 2019 issued by ESB Finance Ltd. and guaranteed by Electricity Supply Board.
The tender offers ended at 11 a.m. ET on June 7. They began May 31.
BNP will accept for purchase €284,783,000 of the two note series, or none of the 6.25% notes and €284,783,000 of the 4.375% notes with no pro rata scaling, according to a notice.
The purchase price will be 115.275% of par for the 4.375% notes plus accrued interest.
After the repurchase on June 14, €215,217,000 principal amount of the 4.375% notes will remain outstanding.
BNP Paribas (+44 20 7595 8668 or liability.management@bnpparibas.com) and Banco Bilbao Vizcaya Argentaria, SA (+44 20 7648 7516 or liabilitymanagement@bbva.comare) the joint dealer managers. Lucid Issuer Services Ltd. (+44 20 7704 0880, esb@lucid-is.com) is the tender agent.
Electricity Supply Board is a Dublin-based electricity utility.
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