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Virgin Money UK PLC - Maximum Acceptance Amount to Tender Offer

RNS Number : 8670X
Virgin Money UK PLC
02 September 2020
 

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES") OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.

2 September 2020

 

 

 

 

Virgin Money UK PLC

(incorporated with limited liability in England and Wales with Registered Number 09595911)

ANNOUNCES MAXIMUM ACCEPTANCE AMOUNT IN RELATION TO TENDER OFFER TO PURCHASE NOTES FOR CASH

Further to the announcement dated 1 September 2020 in relation to the invitation of Virgin Money UK PLC (the "Issuer) to holders of its £475,000,000 5 per cent. Fixed Rate Reset Callable Subordinated Tier 2 Notes due 2026 (ISIN: XS1346646901) (the "Notes"), to tender such Notes for purchase by the Issuer for cash, the Issuer hereby confirms that the Maximum Acceptance Amount is £475,000,000. Capitalised terms used and not otherwise defined in this announcement have the meanings given in the tender offer memorandum prepared by the Issuer dated 1 September 2020 (the "Tender Offer Memorandum").

FURTHER INFORMATION

Noteholders are advised to read carefully the Tender Offer Memorandum for full details of and information on the conditions of and procedures for participating in the Offer.

The Issuer is not under any obligation to accept for purchase any Notes tendered pursuant to the Offer. The acceptance for purchase by the Issuer of Notes tendered pursuant to the Offer is at the sole discretion of the Issuer and tenders may be rejected by the Issuer for any reason.

A complete description of the terms and conditions of the Offer is set out in the Tender Offer Memorandum. Any questions or requests for assistance in connection with: (i) the Offer, may be directed to the Dealer Managers; and (ii) the delivery of Tender Instructions or requests for additional copies of the Tender Offer Memorandum or related documents, which may be obtained free of charge, may be directed to the Tender Agent, the contact details for each of which are set out below.


Dealer Managers

BNP Paribas

16, boulevard des Italiens

75009 Paris

France

 

Telephone: +33 1 55 77 78 94

Attention: Liability Management Group

Email: [email protected]

Lloyds Bank Corporate Markets plc

10 Gresham Street
London
EC2V 7AE
United Kingdom

Telephone: +44 (0) 20 7158 1719/1726
Attention: Liability Management Team, Capital Markets
Email: [email protected]



 

Merrill Lynch International

2 King Edward Street
London
EC1A 1HQ
United Kingdom

Telephone: +44 20 7996 5420

Attention: Liability Management Group

Email: [email protected]

 

NatWest Markets Plc

250 Bishopsgate
London
EC2M 4AA
United Kingdom

 

Telephone: +44 207 678 5222

Attention: Liability Management

Email: [email protected]



Tender Agent

Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London
WC1H 8HA
United Kingdom

Telephone: +44 20 7704 0880

Attention: Owen Morris

Email: [email protected]

 

Announcement authorised for release by Lorna McMillan, Group Company Secretary.

 

DISCLAIMER

 

This announcement must be read in conjunction with the Tender Offer Memorandum. No offer to acquire or exchange any securities is being made pursuant to this announcement. This announcement and the Tender Offer Memorandum contain important information, which must be read carefully before any decision is made with respect to the Offer. If any Noteholder is in any doubt as to the action it should take, it is recommended to seek its own financial, legal and any other advice, including in respect of any tax financial, accounting, regulatory and tax consequences, immediately from its broker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to participate in the Offer. None of the Issuer, the Dealer Managers or the Tender Agent or their respective directors, employees or affiliates makes any recommendation as to whether Noteholders should participate in the Offer and none of the Issuer, the Dealer Managers or the Tender Agent nor any of their respective affiliates will have any liability or responsibility in respect thereto.

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Quick facts: Virgin Money UK PLC

Price: 89.68

Market: LSE
Market Cap: £1.29 billion
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