Rabobank announces final results of its tender offer on its US$1.0bn 3.875% Non-Preferred Senior Notes due 2023 and US$250mln Floating Rate Non-Preferred Senior Notes due 2023

On 15 August 2022, Coöperatieve Rabobank U.A. (the "Offeror" or "Rabobank") launched its invitation to holders of its US$1.0bn 3.875 per cent. Non-Preferred Senior Notes due 2023 (ISINs: US74977RDE18 (144A) and US74977SDE90 (Reg S)) and US$250mln Floating Rate Non-Preferred Senior Notes due 2023 (ISINs: US74977RDD35 (144A) and US74977SDD18 (Reg S)) (collectively, the "Notes") to tender any and all such Notes for purchase by the Offeror for cash (such invitation, the "Offer"). The Offer was made on the terms and subject to the conditions contained in the tender offer memorandum dated 15 August 2022 (the “Tender Offer Memorandum”) and is subject to the offer restrictions described in the Tender Offer Memorandum. Capitalized terms used and not otherwise defined in this press release have the meanings given to them in the Tender Offer Memorandum.

The Offeror today announces that it will accept all validly tendered Notes pursuant to the Offer for purchase for cash in an aggregate principal amount of US$ 616,030,000 [1].

The Offer remains subject to conditions and restrictions set out in the Tender Offer Memorandum and the expected Tender Offer Settlement Date is 25 August 2022 for Notes validly tendered and accepted for purchase which are the subject of a Notice of Guaranteed Delivery and 23 August 2022 in respect of any other Notes validly tendered and accepted for purchase.

All Notes purchased pursuant to the Offer will be cancelled. 

Full details concerning the Offer are set out in the Tender Offer Memorandum. The Tender Offer Memorandum and the full pricing announcement can be obtained from the tender agent: Kroll Issuer Services Limited / rabobank@is.kroll.com / +44 20 7704 0880 or at https://deals.is.kroll.com/rabobank.

[1] In addition, US$2,200,000 in aggregate principal amount of the US$1bn 3.875 per cent Non-Preferred Senior Notes due 2023 were tendered using guaranteed delivery procedures. 

 

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