30th Mar 2021 14:35
(Alliance News) - NatWest Group PLC on Tuesday completed its cash tender offer, repurchasing USD2.17 billion in US dollar denominated notes.
The blue chip lender bought back USD2.15 billion in the aggregate principal amount of the notes, while USD16.1 million were tendered using the guaranteed delivery procedures.
NatWest will repurchase USD100.7 million of its 6.425% non-cumulative trust preferred securities, and USD62.8 million of its 7.648% dollar perpetual regulatory tier one securities.
In addition the group recuperated USD311.4 million of its 6.125% subordinated tier 2 notes due 2022; USD76.5 million of its 6.100% subordinated tier 2 notes due 2023; and USD600.1 billion of its 6.000% subordinated tier 2 notes due 2023.
Finally, NatWest repurchased USD1.01 billion of its 5.125% subordinated tier 2 notes due 2024.
Shares in NatWest were up 1.9% at 193.40 pence on Tuesday in London.
By Paul McGowan; [email protected]; Updated by Dayo Laniyan; [email protected]
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