TIDM84LC
RNS Number : 2373Y
Abbey National Treasury Servs PLC
13 May 2016
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR
RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS
(INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN
SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF
THE UNITED STATES OR THE DISTRICT OF COLUMBIA OR IN ANY OTHER
JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS
ANNOUNCEMENT
13 May 2016
Abbey National Treasury Services plc announces the results of
its cash tender offers in respect of certain of its securities
On 5 May 2016, Abbey National Treasury Services plc (the
"Issuer") announced invitations to holders of the following
securities (the 2022 Notes, the 2025 Notes and the 2029 Notes, each
as defined below, together, the "Securities") to tender any and all
such Securities for purchase by the Issuer for cash:
EUR1,500,000,000 1.125 per cent. Fixed Rate Notes
due 2022 guaranteed by Santander UK plc
(XS1166160173)
(the "2022 Notes")
EUR1,000,000,000 1.125 per cent. Fixed Rate Notes
due 2025 guaranteed by Santander UK plc
(XS1199439222)
(the "2025 Notes")
and
GBP500,000,000 3.875 per cent. Fixed Rate Notes
due 2029 guaranteed by Santander UK plc
(XS1120891012)
(the "2029 Notes")
---------------------------------------------------
The invitations were made separately (each a "Tender Offer" and,
together, the "Tender Offers") on the terms and subject to the
conditions contained in the tender offer memorandum dated 5 May
2016 (the "Tender Offer Memorandum") prepared by the Issuer, and
are subject to the offer restrictions set out below and as more
fully described in the Tender Offer Memorandum. Capitalised terms
used and not otherwise defined in this announcement have the
meaning given thereto in the Tender Offer Memorandum.
The Tender Offers expired at 4.00 p.m. (London time) on 12 May
2016. The Issuer hereby announces the results of the Tender Offers.
Pricing of the Tender Offers took place at or around 11.00 am
(London time) on 13 May 2016.
Results of the Tender Offers
The results of the Tender Offers are as follows:
Description of Issuer ISIN Aggregate Relevant benchmark Aggregate Aggregate Tender Interpolated Tender Tender
Securities principal amount rate or security principal principal Spread Mid-Swap Yield* Price**
outstanding amount validly amount Rate /
prior to the tendered and expected to Benchmark
launch of the accepted remain Security
Tender Offers outstanding Rate
after
settlement
------------------ ---------- -------------- ----------------- --------------------- --------------- --------------- ------- ------------- -------- ----------
EUR1,500,000,000
1.125 per cent. Abbey
Fixed Rate Notes National
due 2022 Treasury Applicable
guaranteed by Services Interpolated +70
Santander UK plc plc XS1166160173 EUR1,484,448,000 Mid-Swap Rate EUR707,344,000 EUR777,104,000 bps 0.068 % 0.768 % 101.969 %
------------------ ---------- -------------- ----------------- --------------------- --------------- --------------- ------- ------------- -------- ----------
EUR1,000,000,000
1.125 per cent. Abbey
Fixed Rate Notes National
due 2025 Treasury Applicable
guaranteed by Services Interpolated +77
Santander UK plc plc XS1199439222 EUR1,000,000,000 Mid-Swap Rate EUR358,943,000 EUR641,057,000 bps 0.414% 1.184 % 99.508 %
------------------ ---------- -------------- ----------------- --------------------- --------------- --------------- ------- ------------- -------- ----------
GBP500,000,000
3.875 per cent. Abbey
Fixed Rate Notes National 6 per cent. UK
due 2029 Treasury Treasury Gilt due
guaranteed by Services 2028 +140
Santander UK plc plc XS1120891012 GBP500,000,000 (ISIN: GB0002404191) GBP147,602,000 GBP352,398,000 bps 1.565 % 2.987 % 109.683%
------------------ ---------- -------------- ----------------- --------------------- --------------- --------------- ------- ------------- -------- ----------
* annualised.
** expressed as a percentage of the principal amount of the
relevant Securities accepted for purchase pursuant to the relevant
Tender Offer. Each Tender Price has been determined in accordance
with market convention including rounding to the nearest 0.001 per
cent. (with 0.0005 rounded upwards).
The Issuer will also pay an Accrued Interest Amount in respect
of Securities accepted for purchase pursuant to the Tender Offers
up to but excluding the Settlement Date.
The Issuer has accepted all validly tendered Securities without
any scaling or pro-ration.
Securities purchased by the Issuer pursuant to the Tender Offers
will be cancelled. Securities which have not been validly submitted
for tender or which are otherwise not purchased pursuant to the
Tender Offers will remain outstanding on their existing terms after
the Settlement Date.
Settlement of the Tender Offers
The Issuer expects settlement of the Tender Offers in respect of
the Securities to proceed on 17 May 2016, in accordance with the
indicative timetable for those Tender Offers.
Contact information
Questions and requests for assistance in connection with the
Tender Offers may be directed to the Dealer Managers:
THE DEALER MANAGERS
BANCO SANTANDER, S.A. UBS LIMITED
Avenida de Cantabria, s/n 1 Finsbury Avenue
28660 Boadilla Del Monte London EC2M 2PP
Madrid, Spain Telephone: +44 20 7568 2133
Telephone: + 44 20 7756 6909/+44 20 7756 6646 Email: ol-liabilitymanagement-eu@ubs.com
Email: tommaso.grospietro@santandergcb.com Attention: Liability Management Group
King.Cheung@santandergcb.com
Attention: Liability Management
TENDER AGENT
Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom
Attention: Paul Kamminga
Tel: +44 20 7704 0880
Email: santander@lucid-is.com
DISCLAIMER: The offer period for the Tender Offers has now
expired. No further tenders of any Securities may be made pursuant
to the Tender Offers. This announcement must be read in conjunction
with the Tender Offer Memorandum. This announcement and the Tender
Offer Memorandum contain important information which should be read
carefully. If any Securityholder is in any doubt as to the contents
of the Tender Offer Memorandum or the action it should take, it is
recommended to seek its own financial advice, including in respect
of any tax consequences, from its broker, bank manager, solicitor,
accountant or other independent financial, tax or legal
adviser.
This information is provided by RNS
The company news service from the London Stock Exchange
END
RTEAKNDDBBKDBPD
(END) Dow Jones Newswires
May 13, 2016 08:15 ET (12:15 GMT)
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