FAP Ulster Bk.11.75

TIDMFAP

RNS Number : 0152S

Ulster Bank Ireland DAC

27 September 2017

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT. THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.

ULSTER BANK IRELAND DAC

ANNOUNCES RESULTS OF CASH TENDER OFFERS

27 September 2017 - Ulster Bank Ireland DAC (the "Offeror") announces the final results of the cash tender offers (the "Offers") for the bonds set out in the table below (the "Bonds"). The Offers were made on, and remain subject to, the terms and conditions set forth in the tender offer memorandum dated 29 August 2017 (the "Tender Offer Memorandum"). Capitalised terms used but not defined herein shall have the meanings given to them in the Tender Offer Memorandum.

The Offers expired at 11:00 a.m. (London time) / 6:00 a.m. (New York City time) on 27 September 2017. The aggregate principal amount of each series of Bonds validly tendered and accepted for purchase is set out below:

 
                                                             Amount remaining                                  Accrued 
                                           Amount accepted   outstanding after    Purchase      Minimum      Interest per 
                                            for purchase      the Settlement       Price      Denomination     Minimum 
     Title of Bond            ISIN                                 Date                                      Denomination 
----------------------  ---------------  -----------------  ------------------  ----------  --------------  ------------- 
  STG GBP5,000,000        IE0004325282       STG 168,000       STG 1,148,000      50.0 per     STG 1,000       STG 15.37 
  Floating Rate                                                                    cent. 
  Subordinated Bonds 
 IEP GBP30,000,000 
  11.375% Subordinated                                                           160.5 per 
  Bonds                   IE0004325399    EUR 6,938,030.85   EUR 31,154,111.15     cent.     EUR 12,697.38    EUR 553.40 
 STG GBP20,000,000        IE0004325514     STG 8,547,000      STG 11,453,000     158.5 per    STG 10,000      STG 450.20 
  11.75% Subordinated                                                              cent. 
  Bonds 
 

The Offeror has accepted for purchase all Bonds validly offered for purchase. The Offeror expects to make payment to the Registrar for all Bonds accepted for purchase pursuant to the Offers on the Settlement Date, which is expected to be 29 September 2017, for prompt onward payment to the Bondholders. Bonds that have not been accepted for purchase by the Offeror will remain outstanding following the Settlement Date. All Bonds accepted for purchase will be cancelled.

Further Information

The Offeror has retained The Royal Bank of Scotland plc (trading as NatWest Markets), an affiliate of the Offeror, to act as Dealer Manager for the Offers and Computershare Investor Services (Ireland) Limited to act as Registrar.

Any questions in relation to the Offers may be directed to:

Catherine Corbett

Head of Term Funding & Money Markets

Ulster Bank Ireland DAC

George's Quay

Dublin 2

Telephone: +353(0)1 6085377

Scott Forrest

Head of Debt Capital Markets & Capital Strategy

The Royal Bank of Scotland Group plc

250 Bishopsgate

London EC2M 4AA

Telephone: +44 (0) 20 7678 5313

 
 The Royal Bank of Scotland plc (trading as NatWest 
  Markets), as Dealer Manager 
  250 Bishopsgate 
  London EC2M 4AA 
  Telephone: +44 20 7678 5405 
  Attention: Liability Management 
  Email: LiabilityManagement@natwestmarkets.com 
 

This announcement is released by the Offeror 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 Offers described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Brian Lynch, Group Treasurer for Ulster Bank Ireland DAC.

Legal Entity Identifier: 635400KQIMALJ4XLAD78

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 27, 2017 11:55 ET (15:55 GMT)

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