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Deutsche Bank AG, London Branch announces debt tender offer


April 13, 2011 - London

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT (See "Invitation and Distribution Restrictions" below).

13 April 2011 - Deutsche Bank AG, London Branch (the "Offeror") announced today an invitation to holders of Schiphol Nederland B.V.'s (the "Company") (i) €300,000,000 4.375 per cent. Guaranteed Notes due 8 July 2013 (of which €300,000,000 is currently outstanding) guaranteed by N.V. Luchthaven Schiphol ("Schiphol Group") issued under the Company's and Schiphol Group's joint Euro Medium Term Note Programme (the "Programme") (ISIN: XS0171966269) (the "2013 Notes") and (ii) €800,000,000 6.625 per cent. Guaranteed Notes due 23 January 2014 (of which €649,999,000 is currently outstanding) guaranteed by Schiphol Group issued under the Programme (ISIN: XS0399674216) (the "2014 Notes" and, together with the 2013 Notes, the "Existing Notes") to make offers to tender their Existing Notes for purchase by the Offeror for cash up to a maximum of €150,000,000 and €325,000,000 in aggregate nominal amount of the 2013 Notes and the 2014 Notes respectively (the "Invitation").

The Invitation is made on the terms and subject to the conditions contained in the Tender Offer Memorandum dated 13 April 2011 (the "Tender Offer Memorandum") including the invitation and distribution restrictions contained therein and this announcement should be read in conjunction with the Tender Offer Memorandum. Capitalised terms used but not otherwise defined in this announcement shall have the meaning given to them in the Tender Offer Memorandum.

The Offeror will pay for each €1,000 in nominal amount of the Existing Notes accepted by it for purchase pursuant to the Invitation a price to be determined at the Pricing Time on the Pricing Date in the manner described in the Tender Offer Memorandum by reference to the sum of a purchase spread of zero basis points in respect of the 2013 Notes and ten basis points in respect of the 2014 Notes and the applicable Interpolated Mid-Swap Rate. The Offeror will also pay, on the Settlement Date, Accrued Interest on such Existing Notes.

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This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Schiphol Group via Thomson Reuters ONE

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