Result of Tender Offer
June 21 2010 - 10:09AM
UK Regulatory
TIDM65DV
RNS Number : 9682N
CHESS Capital Securities plc
21 June 2010
Result of Tender Offer by CHESS Capital Securities plc for its EUR125,000,000
Perpetual Tier-One Pass-Through Securities (ISIN: XS0225592145)
21st June, 2010: CHESS Capital Securities plc (the Company), today announces the
acceptances and results of its invitation to holders of its outstanding
EUR125,000,000 Perpetual Tier-One Pass-Through Securities (ISIN: XS0225592145)
(the Notes) to tender their Notes for purchase by the Company for cash (the
Offer). The Offer was made on the terms and subject to the conditions contained
in the tender offer memorandum dated 1st June, 2010 (the Tender Offer
Memorandum) prepared by the Company for the Offer.
Acceptance of EUR87,147,000 in aggregate principal amount of the Notes tendered
pursuant to the Offer
The Offer expired at 5.00 p.m. (London time) on 18th June, 2010. Of the
EUR125,000,000 in aggregate principal amount of Notes currently outstanding,
EUR87,147,000 in aggregate principal amount of the Notes has been validly tendered
for purchase and not withdrawn in accordance with the terms and conditions of
the Offer. The Company has decided to accept for purchase, subject to
satisfaction of the Settlement Condition described in the Tender Offer
Memorandum, all such Notes validly tendered pursuant to the Offer.
The Company will pay EUR440 (the Purchase Price) for each EUR1,000 in principal
amount of the Notes accepted by it for purchase pursuant to the Offer. The
Company will not pay any amount in respect of accrued interest on the Notes. The
expected settlement date is Wednesday, 23rd June, 2010.
The Offer was subject to restrictions in various jurisdictions, as further
described in the Tender Offer Memorandum. This announcement must be read in
conjunction with the Tender Offer Memorandum.
Further Information
The Offer is described in full in the Tender Offer Memorandum. J.P. Morgan
Securities Ltd. (Telephone: +44 20 7779 2468 or +44 20 7777 1333; Email:
fig_syndicate@jpmorgan.com or sebastien.m.bamsey@jpmorgan.com) is acting as
Dealer Manager for the Offer. Lucid Issuer Services Limited (Telephone: +44 20
7704 0880; Fax: +44 20 7067 9098; Email: chess@lucid-is.com) is acting as the
Tender Agent for the Offer.
The information contained in this announcement is for informational purposes
only and does not constitute an offer to purchase any securities or a
solicitation of an offer to sell any securities.
DISCLAIMER
This announcement must be read in conjunction with the Tender Offer Memorandum.
No offer or invitation to acquire 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 Company, the Dealer Manager and the Tender Agent to
inform themselves about, and to observe, any such restrictions.
This announcement has been issued through the Companies Announcement Service of
the Irish Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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