Result of Tender Offer

 

TIDM65DV 
 
RNS Number : 9682N 
CHESS Capital Securities plc 
21 June 2010 
 

  Result of Tender Offer by CHESS Capital Securities plc for its EUR125,000,000 
        Perpetual Tier-One Pass-Through Securities (ISIN: XS0225592145) 
21st June, 2010: CHESS Capital Securities plc (the Company), today announces the 
acceptances and results of its invitation to holders of its outstanding 
EUR125,000,000 Perpetual Tier-One Pass-Through Securities (ISIN: XS0225592145) 
(the Notes) to tender their Notes for purchase by the Company for cash (the 
Offer).  The Offer was made on the terms and subject to the conditions contained 
in the tender offer memorandum dated 1st June, 2010 (the Tender Offer 
Memorandum) prepared by the Company for the Offer. 
Acceptance of EUR87,147,000 in aggregate principal amount of the Notes tendered 
pursuant to the Offer 
The Offer expired at 5.00 p.m. (London time) on 18th June, 2010. Of the 
EUR125,000,000 in aggregate principal amount of Notes currently outstanding, 
EUR87,147,000 in aggregate principal amount of the Notes has been validly tendered 
for purchase and not withdrawn in accordance with the terms and conditions of 
the Offer. The Company has decided to accept for purchase, subject to 
satisfaction of the Settlement Condition described in the Tender Offer 
Memorandum, all such Notes validly tendered pursuant to the Offer. 
The Company will pay EUR440 (the Purchase Price) for each EUR1,000 in principal 
amount of the Notes accepted by it for purchase pursuant to the Offer.  The 
Company will not pay any amount in respect of accrued interest on the Notes. The 
expected settlement date is Wednesday, 23rd June, 2010. 
The Offer was subject to restrictions in various jurisdictions, as further 
described in the Tender Offer Memorandum. This announcement must be read in 
conjunction with the Tender Offer Memorandum. 
Further Information 
The Offer is described in full in the Tender Offer Memorandum. J.P. Morgan 
Securities Ltd. (Telephone: [phone] or [phone]; Email: 
[e-mail] or [e-mail]) is acting as 
Dealer Manager for the Offer. Lucid Issuer Services Limited (Telephone: +44 20 
7704 0880; Fax: [phone]; Email: [e-mail]) is acting as the 
Tender Agent for the Offer. 
The information contained in this announcement is for informational purposes 
only and does not constitute an offer to purchase any securities or a 
solicitation of an offer to sell any securities. 
DISCLAIMER 
This announcement must be read in conjunction with the Tender Offer Memorandum. 
No offer or invitation to acquire any securities is being made pursuant to this 
announcement. The distribution of this announcement and the Tender Offer 
Memorandum in certain jurisdictions may be restricted by law. Persons into whose 
possession this announcement and/or the Tender Offer Memorandum comes are 
required by each of the Company, the Dealer Manager and the Tender Agent to 
inform themselves about, and to observe, any such restrictions. 
 
 
 
This announcement has been issued through the Companies Announcement Service of 
the Irish Stock Exchange. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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