Barclays Bank PLC Final Result of Tender Offer to Noteholders (9735K)
January 07 2021 - 9:45AM
UK Regulatory
TIDM96ES
RNS Number : 9735K
Barclays Bank PLC
07 January 2021
NOT FOR DISTRIBUTION IN OR INTO ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT
January 7, 2021
BARCLAYS BANK PLC ANNOUNCES THE EXPIRATION OF ITS INVITATION TO
PURCHASE NOTES FOR CASH
Barclays Bank PLC (the "Issuer") announces today the expiration
of its previously announced invitation to holders (the
"Noteholders") of its 7.625% Contingent Capital Notes due November
2022 (the "Notes") to tender the Notes up to an aggregate principal
amount of US$1,500,000,000 (the "Maximum Principal Amount") for
purchase by the Issuer for cash (the "Offer").
The Offer was made on the terms and subject to the conditions
and restrictions set out in the tender offer memorandum dated
December 7, 2020 (the "Tender Offer Memorandum") and in the press
release on December 21, 2020 on the early results of the Offer.
Capitalized terms used in this announcement and not otherwise
defined have the meanings given to them in the Tender Offer
Memorandum.
The Issuer hereby announces that the Offer expired at 11:59
p.m., New York City time, on January 6, 2021 (the "Expiration
Deadline").
An aggregate principal amount of US$1,500,000,000 of the Notes,
after pro ration and rounding, was accepted from Noteholders who
validly tendered and did not validly withdraw their Notes pursuant
to the Offer by 5:00pm, New York City time, on December 18, 2020
(the "Early Tender Date") (the "Accepted Notes"). The total cash
payment to purchase the Accepted Notes of U.S.$1,697,348,956.98,
including the Total Consideration and the Accrued Interest Payment,
was paid to applicable Noteholders on December 22, 2020.
As previously announced by the Issuer on December 21, 2020, the
Maximum Principal Amount was exceeded as at the Early Tender Date
and, accordingly, the Issuer has not accepted any Notes validly
tendered after the Early Tender Date. No Notes were validly
tendered after the Early Tender Date.
For Further Information
A complete description of the terms and conditions of the Offer
is set out in the Tender Offer Memorandum and in the press release
on December 21, 2020 on the early results of the Offer. Further
details about the transaction can be obtained from:
The Dealer Manager
Barclays Capital Inc.
745 Seventh Avenue
New York, New York 10019
United States
Telephone: +1 (212) 528-7581
US Toll Free Number: +1 (800) 438-3242
Attention: Liability Management Group
Email: us.lm@barclays.com
The Tender Agent
Global Bondholder Services Corporation
65 Broadway - Suite 404
New York, New York 10006
United States
Telephone: +1 (212) 430-3774
U.S. Toll Free Number: +1 (866) 470-4300
Fax: +1 (212) 430-3775
Attention: Corporation Actions
Email: contact@gbsc-usa.com
A copy of the Tender Offer Memorandum is available to eligible
persons upon request from the Tender Agent and at
https://www.gbsc-usa.com/barclays/ .
* * *
DISCLAIMER
This announcement must be read in conjunction with the Tender
Offer Memorandum. No offer or invitation to acquire or exchange any
securities is being made pursuant to this announcement.
The distribution of this announcement and the Tender Offer
Memorandum in certain jurisdictions may be restricted by law.
Persons into whose possession this announcement and/or the Tender
Offer Memorandum comes are required by each of the Issuer, the
Dealer Manager and the Tender Agent to inform themselves about and
to observe any such restrictions.
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END
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