Royal Bank ofScotland Group Plc and Royal Bank of Scotland Plc on March 30 invited theholders of certain U.S. dollar-, pound- and euro-denominated notes to tendertheir securities for cash.
The aggregate principal amount outstanding for thedollar-denominated notes is $2.95 billion, while the aggregate principalamounts outstanding for the pound- and euro-denominated notes are £719.5million and €3.14 billion, respectively.
The tender offers expire April 6, with pricing to bedetermined April 6 for the dollar-denominated notes and April 7 for the euro-and pound-denominated notes. Results of the offers will be announced April 7,with settlement due April 11.
RBS Securities Inc. serves as global arranger and leaddealer manager and Goldman Sachs & Co. serves as dealer manager for thedollar-denominated tender offer. Royal Bank of Scotland Plc serves as globalarranger and lead dealer manager on the pound- and euro-denominated offers,with Goldman Sachs International serving as dealer manager.
Meanwhile, RBS is looking to sell a 10-yeardollar-denominated senior unsecured bond through the holding company, its firstsuch offering in nearly two years, InternationalFinancing Review reported March 30. The notes will count toward RBS' totalloss-absorbing capacity requirement, IFR noted.