Santander UK plc Announces an Offer to Purchase for Cash Any and All of Certain Outstanding Non-Cumulative Trust Preferred Securities of Abbey National Capital Trust I
Santander UK plc (formerly known as Abbey National plc) (the "Company") announces an offer (the "Offer") to holders of 8.963% Non-Cumulative Trust Preferred Securities issued by Abbey National Capital Trust I (the "Securities") to purchase for cash any and all such Securities for the tender offer consideration (the "Tender Offer Consideration") set forth in the table below. The Offer is being made upon the terms and subject to the conditions set forth in the offer to purchase dated July 30, 2013 (the "Offer to Purchase").
Title of Security ISIN/CUSIP Numbers Aggregate Liquidation Preference Outstanding Tender Offer Consideration Per US$1,000 Liquidation Preference(1)8.963% Non-Cumulative Trust Preferred Securities issued by Abbey National Capital Trust IUS002927AA95/
002927AA9US$366,364,000US$1,250
(1) Does not include accrued but unpaid distributions, which will be paid in addition to the Tender Offer Consideration.
The following is a brief summary of certain terms of the Offer:
Expiration Date: 5:00 p.m., New York City time, on August 8, 2013, unless extended or earlier terminated.
Tender Offer Consideration: US$1,250 per each US$1,000 liquidation preference of Securities that are validly tendered and not validly withdrawn, and accepted for purchase by the Company pursuant to the terms in the Offer to Purchase.
Purpose of the Offer: The Offer, to the extent accepted, will enable the Company to optimize in line with the evolving regulatory environment the existing Tier 1 and Tier 2 securities that the Company has outstanding whilst generating core tier one capital. Any future decision by the Company as to the exercise of early redemption calls of its capital instruments will be made with reference to the economic impact for the Company of such early redemption, regulatory requirements and prevailing market conditions.
Accrued and Unpaid Distributions: Holders who validly tender and do not validly withdraw their Securities and whose Securities are accepted for purchase in the Offer will also be paid a cash amount in US dollars equal to the accrued and unpaid distributions of the Securities from, and including, the immediately preceding distribution date, up to, but excluding, the Settlement Date, payable on the Settlement Date.
Withdrawal Rights: Tendered Securities may be withdrawn any time prior to 5:00 p.m., New York City time, on August 8, 2013, unless extended or earlier terminated, but not thereafter, by Holders submitting a valid electronic withdrawal instruction as described in the Offer to Purchase.
Settlement Date for Offer: The Settlement Date will occur promptly after the Expiration Date. Assuming the Offer is not extended or earlier terminated, it is expected that the Settlement Date will be August 13, 2013.
Conditions to the Offer: Consummation of the Offer is conditioned upon the satisfaction or, where applicable, waiver of the conditions described in the Offer to Purchase.
L'ho postato anche nel 3d sulla 4q4 lo faremo diventare 3d unico sulle Santander tanto sono 4 in tutto(in euro)
