30th Mar 2021 09:33
(Alliance News) - NatWest Group PLC on Tuesday priced its cash tender offer for certain series of its US dollar denominated notes.
NatWest is looking to buy back USD137.7 million of its 6.425% non-cumulative trust preferred securities, and USD130.2 million of its 7.648% dollar perpetual regulatory tier one securities - both with a reference yield of 1.706%.
The blue chip lender is also looking to recuperate USD1.62 billion of its 6.125% subordinated tier 2 notes due 2022; USD544.2 million of its 6.100% subordinated tier 2 notes due 2023; and USD2.00 billion of its 6.000% subordinated tier 2 notes due 2023 - with all three series holding a 0.145% reference yield.
Finally, NatWest will look to tender USD2.25 billion of its 5.125% subordinated tier 2 notes due 2024 - which hold a reference yield of 0.316%.
Shares in NatWest were 1.8% higher in London on Tuesday morning at 193.15 pence each.
By Paul McGowan; [email protected]
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