REG - Macquarie Group Ltd - Indicative Results of Tender Offer

MacquarieAnnouncement

03/04/2019 09:05

RNS Number : 9752U
Macquarie Group Ltd
03 April 2019
 


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT")) 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 ("UNITED STATES") OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
Macquarie Group Limited (the "Company") announces Indicative Tender Results in relation to its outstanding €500,000,000 Fixed-to-Floating Rate Unsubordinated PD Debt Instruments due 5 March 2025 (ISIN: XS1784246701) (the "Instruments")
On 26 March 2019, the Company announced its invitation ("Offer") to all holders ("Holders") of the outstanding Instruments to tender their Instruments for purchase as described in the Tender Offer Memorandum dated 26 March 2019 ("Tender Offer Memorandum").  The Offer expired at 5.00 pm (CET) on 2 April 2019.
At the Expiration Deadline, the aggregate nominal amount of Instruments tendered by Holders amounted to €115,573,000. The Company announces that it (i) intends to accept €115,573,000 in aggregate nominal amount of the Instruments for purchase (such amount to be the Acceptance Amount), and (ii) expects that no Scaling Factor will be applied. Holders should note that this is a non-binding indication of the level at which the Company expects to set the Acceptance Amount in the event that it decides to accept valid tenders of Instruments pursuant to the Offer.



Issuer





ISIN /

Common Code


Outstanding Nominal Amount


Issuer Call Date


Offer Spread


Purchase Yield


Expected

Acceptance Amount




Macquarie Group Limited


XS1784246701 / 178424670


€500,000,000


5 March 2024


115 bps


Yield to the Issuer Call Date equal to the sum of the Interpolated Mid-Swap Rate and the Offer Spread


€115,573,000



 
Pricing of the Offer will take place at or around 12.00 noon (CET) today, 3 April 2019 (the "Pricing Time"). As soon as reasonably practicable after the Pricing Time, the Company will announce its final decision as to whether it will accept any Instruments for purchase pursuant to the Offer and, if so, also state (i) the aggregate nominal amount of the Instruments accepted for purchase, (ii) the Interpolated Mid-Swap Rate, the Purchase Yield and any Scaling Factor, (iii) the Purchase Price, and (iv) the amount of any Accrued Interest. The Settlement Date is expected to be 5 April 2019.
General
The terms and conditions of the Offer are set forth in the Tender Offer Memorandum.  The Offer was subject to certain offer and distribution restrictions as more fully described in the Tender Offer Memorandum. Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the Tender Offer Memorandum.
The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch (Tel: +44 20 7992 6237 / +852 2822 4100 / +61 2 9255 2203; Attention: Liability Management Group; Email: liability.management@hsbcib.com) and ING Bank N.V. (Tel: +31 20 5632132; Attention: Liability Management Team; Email: liability.management@ing.com) are acting as Joint Dealer Managers for the Offer and Lucid Issuer Services Limited (Tel: +44 20 7704 0880; Attention: Thomas Choquet; Email: macquarie@lucid-is.com) is acting as Tender Agent.
This announcement is released by Macquarie Group Limited and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), encompassing information relating to the Offer described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Kathryn Burgess, Chief Financial Officer of EMEA at Macquarie Group Limited.
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/or 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 the Company, the Joint Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.




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