RBS: Debt Tenders Offers Will Not Have Material Impact
April 11 2016 - 04:41AM
Dow Jones News
LONDON--Royal Bank of Scotland Group PLC (RBS.LN) said Monday
that its recent cash tenders for certain debt securities will not
have a material impact on the company and its retail banking unit
Royal Bank of Scotland PLC.
The parent and the unit recently completed cash tenders of
certain of their U.S. dollar, Sterling and Euro senior debt
securities in line with regulatory requirements. The overall take
up rate of the tender offers was 43.5%.
The parent company intends to recognize a loss of around 66.1
million pounds ($93.34 million) in its second quarter results in
relation to the offers. The tender offers are also expected to
result in total interest savings of GBP171.8 million.
Shares of Royal Bank of Scotland Group at 0807 GMT trading 1.0%
higher at 214 pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
April 11, 2016 04:26 ET (08:26 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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