REG - Macquarie Group Ltd - Result of Tender Offer - Notes due 5 March 2025

MacquarieAnnouncement

03/04/2019 12:00

RNS Number : 0104V
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 Final 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 (i) it accepts €115,573,000 in aggregate nominal amount of the Instruments for purchase pursuant to the Offer (such amount being the Acceptance Amount), (ii) no Scaling Factor will be applied and, accordingly, valid tenders of Instruments will be accepted in full, and (iii) the Interpolated Mid-Swap Rate, the Purchase Yield, the Purchase Price have been set, and the amount of the Accrued Interest Payment to be payable on the Settlement Date is, as indicated in the table below.
The Company hereby announces the following final results of the Offer:  



Acceptance Amount


Interpolated Mid-Swap Rate


Offer Spread


Purchase Yield


Purchase Price*





Accrued Interest*




€115,573,000


0.039%


115 bps


1.189%


100.289%


0.105874%



 
*     As a percentage of the nominal amount of the relevant Instruments.
The applicable Purchase Price, together with the Accrued Interest Payment, will be paid to Holders whose Instruments have been accepted for purchase by the Company. The Settlement Date is expected to be 5 April 2019.  Instruments purchased by the Company under the Offer will be immediately cancelled. Instruments which have not been successfully tendered and accepted for purchase under the Offer will remain outstanding after the Settlement Date. Following settlement of the Offer, €384,427,000 in aggregate nominal amount of the Instruments will remain outstanding.
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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