Allied Irish Banks, p.l.c. ("AIB") (NYSE:
AIB)
ALLIED IRISH BANKS, P.L.C. ANNOUNCES THE
PRELIMINARY RESULTS OF ITS OFFERS TO PURCHASE FOR CASH
any and all of its outstanding
£350,000,000 Subordinated Callable Fixed/Floating Rate Notes due
2030 (ISIN: XS0180778507) (the "2030 Sterling
Notes")
U.S.$400,000,000 Dated Callable Step-Up Subordinated Notes due
2015 (ISIN: XS0197993875) (the "2015 Dollar
Notes")
EUR 400,000,000 Subordinated Callable Step-Up Floating Rate
Notes due 2015 (ISIN: XS0208845924) (the "2015
Euro Notes")
£500,000,000 Subordinated Callable Fixed/Floating Rate Notes due
2025 (ISIN: XS0214107053) (the "2025 Sterling
Notes")
EUR 500,000,000 Callable Subordinated Step-Up Floating Rate
Notes due 2017 (ISIN: XS0232498393) (the "2017
Euro Floating Rate Notes")
£700,000,000 Callable Dated Subordinated Fixed to Floating Rate
Notes due July 2023 (ISIN: XS0368068937) (the "2023 Sterling Notes")
£368,253,000 12.5 per cent. Subordinated Notes due 25 June 2019
(ISIN: XS0435957682) (the "2019 Sterling
Notes")
EUR 868,518,000 12.5 per cent. Subordinated Notes due 25 June
2019 (ISIN: XS0435953186) (the "2019 Euro
Notes")
EUR 419,070,000 10.75 per cent. Subordinated Notes due 2017
(ISIN: XS0498532117) (the "2017 Euro
Notes")
U.S.$177,096,000 10.75 per cent. Subordinated Notes due 2017
(ISIN: XS0498530178) (the "2017 Dollar
Notes") £1,096,645,000 11.50 per cent. Subordinated Notes due
2022 (ISIN: XS0498531069) (the "2022 Sterling
Notes") EUR 200,000,000 Perpetual Subordinated Callable
Step-Up Notes (ISIN: XS0100325983) (the "Perpetual
Euro Notes")
£400,000,000 Perpetual Callable Step-Up Subordinated Notes
(ISIN: XS0227409629) (the "Perpetual Sterling
Notes")
EUR 500,000,000 7.50 per cent. Step-Up Callable Perpetual
Reserve Capital Instruments (ISIN: XS0120950158) (the "Perpetual RCIs")
U.S.$100,000,000 Subordinated Primary Capital Perpetual Floating
Rate Notes (ISIN: IE0000189625) (the "Perpetual
Dollar Notes" and, together with the 2030 Sterling Notes, the
2015 Dollar Notes, the 2015 Euro Notes, the 2025 Sterling Notes,
the 2017 Euro Floating Rate Notes, the 2023 Sterling Notes, the
2019 Sterling Notes, the 2019 Euro Notes, the 2017 Euro Notes, the
2017 Dollar Notes, the 2022 Sterling Notes, the Perpetual Euro
Notes, the Perpetual Sterling Notes and the Perpetual RCIs, the
"Notes")
and
any and all of the outstanding
AIB UK I LP EUR 1,000,000,000 Fixed Rate/Floating Rate
Guaranteed Non-voting Non-cumulative Perpetual Preferred Securities
having the benefit of a subordinated guarantee of Allied Irish
Banks, p.l.c. (ISIN: XS0208105055) (the "AIB UK I
PPS")
AIB UK 2 LP EUR 500,000,000 Fixed Rate/Floating Rate Guaranteed
Non-voting Non-cumulative Perpetual Preferred Securities having the
benefit of a subordinated guarantee of Allied Irish Banks, p.l.c.
(ISIN: XS0257734037) (the "AIB UK 2 PPS")
AIB UK 3 LP £350,000,000 Fixed Rate/Floating Rate Guaranteed
Non-voting Non-cumulative Perpetual Preferred Securities having the
benefit of a subordinated guarantee of Allied Irish Banks, p.l.c.
(ISIN: XS0257571066)
(the "AIB UK 3 PPS" and, together with the
AIB UK I PPS and the AIB UK 2 PPS, the "PPS")
On 13 May 2011, Allied Irish Banks, p.l.c. (the "Bank") announced that it was inviting all holders of
the Notes (subject to the invitation restrictions set out in the
Tender and Consent Memorandum (as defined below)) to (i) tender any
and all of the Notes for purchase by the Bank for cash, and (ii)
consent (the "AIB Consent Invitation") to
certain modifications of the terms of the Notes (together, the
"AIB Offer").
The Bank also announced that it was inviting holders (subject to
the invitation restrictions set out in the Tender and Consent
Memorandum) to tender any and all of the PPS for purchase by the
Bank for cash.
In addition on the same date, AIB G.P. No. 1 Limited
("AIB GP") announced that it was inviting all
holders of the PPS (subject to the invitation restrictions set out
in the Tender and Consent Memorandum) to consent (the "LP Consent Invitation" and together with the AIB
Consent Invitation, the "Consent Invitations"
and each a "Consent Invitation") to certain
modifications of the terms of the PPS (together with the Bank's
invitation to such holders, the "LP Offer"
and together with the AIB Offer, the "Offers"
and each an "Offer").
The Offers were made upon the terms and subject to the
conditions contained in the tender and consent memorandum dated 13
May 2011 (the "Tender and Consent
Memorandum").
In conjunction with the invitation to tender any and all of the
Notes or PPS, as applicable, each of the Bank (in respect of the
Notes) and AIB GP (in respect of the PPS) invited holders of each
Series of Notes and PPS (subject to the invitation restrictions set
out in the Tender and Consent Memorandum) to consider, and, if
thought fit, pass, the relevant Extraordinary Resolution (each an
"Extraordinary Resolution") in relation to
certain modifications of the terms of each Series of the Notes
and/or PPS (and the guarantees in respect of the PPS) as further
described in the Tender and Consent Memorandum.
This announcement is made in accordance with the Tender and
Consent Memorandum. Capitalised terms used and not otherwise
defined in this announcement have the meaning given in the Tender
and Consent Memorandum.
The Bank hereby announces the provisional aggregate nominal
amount of each Series of Notes (other than the 2015 Euro Notes, the
2023 Sterling Notes and the 2017 Euro Notes, together the
"Delayed Settlement Notes") and PPS validly
tendered pursuant to the relevant Offer as set out in the table
below.
----------------------------------------------------------------------------
Description of the Notes Common code/ISIN Outstanding Provisional
nominal amount aggregate
prior to nominal amount
settlement of of Notes validly
the AIB Offer tendered
----------------------------------------------------------------------------
£350,000,000 Subordinated 018077850/ £145,000 £145,000
Callable Fixed/Floating XS0180778507
Rate Notes due 2030
----------------------------------------------------------------------------
U.S.$400,000,000 Dated 019799387/ U.S.$39,316,000 U.S.$38,359,000
Callable Step-Up XS0197993875
Subordinated Notes due
2015
----------------------------------------------------------------------------
£500,000,000 Subordinated 021410705/ £1,261,000 £125,000
Callable Fixed/Floating XS0214107053
Rate Notes due 2025
----------------------------------------------------------------------------
EUR 500,000,000 Callable 023249839/ EUR 75,215,000 EUR 49,930,000
Subordinated Step-Up XS0232498393
Floating Rate Notes due
2017
----------------------------------------------------------------------------
£368,253,000 12.5 per 043595768/ £215,963,000 £41,103,000
cent. Subordinated Notes XS0435957682
due 25 June 2019
----------------------------------------------------------------------------
EUR 868,518,000 12.5 per 043595318/ EUR 628,448,000 EUR 588,498,000
cent. Subordinated Notes XS0435953186
due 25 June 2019
----------------------------------------------------------------------------
U.S.$177,096,000 10.75 049853017/ U.S.$108,105,000 $93,510,000
per cent. Subordinated XS0498530178
Notes due 2017
----------------------------------------------------------------------------
£1,096,645,000 11.50 per 049853106/ £385,344,000 £384,294,000
cent. Subordinated Notes XS0498531069
due 2022
----------------------------------------------------------------------------
EUR 200,000,000 Perpetual 010032598/ EUR 53,793,000 EUR 53,515,000
Subordinated Callable XS0100325983
Step-Up Notes
----------------------------------------------------------------------------
£400,000,000 Perpetual 022740962/ £58,608,000 £58,558,000
Callable Step-Up XS0227409629
Subordinated Notes
----------------------------------------------------------------------------
EUR 500,000,000 7.50 per 0120950515/ EUR 240,435,000 EUR 229,494,000
cent. Step-Up Callable XS0120950158
Perpetual Reserve
Capital Instruments
----------------------------------------------------------------------------
U.S.$100,000,000 001056093/ U.S.$100,000,000 $98,980,000
Subordinated Primary IE000018962
Capital Perpetual
Floating Rate Notes
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Description of the PPS Common code/ISIN Outstanding Provisional
nominal amount aggregate
prior to nominal amount
settlement of of PPS validly
the LP Offer tendered
----------------------------------------------------------------------------
AIB UK I LP EUR 020810505/ EUR 191,398,000 EUR 187,390,000
1,000,000,000 Fixed XS0208105055
Rate/Floating Rate
Guaranteed Non-voting
Non-cumulative Perpetual
Preferred Securities
----------------------------------------------------------------------------
AIB UK 2 LP EUR 025773403/ EUR 95,041,000 EUR 94,624,000
500,000,000 Fixed XS0257734037
Rate/Floating Rate
Guaranteed Non-voting
Non-cumulative Perpetual
Preferred Securities
----------------------------------------------------------------------------
AIB UK 3 LP £350,000,000 025757106/ £36,728,000 £36,181,000
Fixed Rate/Floating Rate XS0257571066
Guaranteed Non-voting
Non-cumulative Perpetual
Preferred Securities
----------------------------------------------------------------------------
The provisional aggregate nominal amount of all Notes and PPS
validly tendered is in excess of 86 per cent. of the aggregate
outstanding nominal amount such Notes and PPS which the Bank
offered to purchase pursuant to the Offers. The Bank expects to
generate approximately EUR 1.6 billion of Core Tier 1 capital
following completion of the Offers.
As soon as reasonably practicable after conclusion of the
Meetings on Thursday, 16 June 2011, (A) the Bank expects to
announce whether (i) it accepts for purchase Notes or PPS validly
tendered in the relevant Offer and the aggregate nominal amount (if
any) of Notes or PPS of each Series accepted for purchase, and (ii)
the Extraordinary Resolutions (in relation to the Notes other than
the Delayed Settlement Notes) have been passed, and (B) AIB GP
expects to announce whether the Extraordinary Resolutions (in
relation to the PPS) have been passed.
Payment of the Purchase Price in respect of Notes (other than
the Delayed Settlement Notes) and PPS validly tendered in the
relevant Offer and accepted for purchase is expected to be made on
Friday, 17 June 2011.
The Bank expects to announce the provisional aggregate nominal
amount of each Series of Delayed Settlement Notes validly tendered
pursuant to the AIB Offer on Thursday, 21 July 2011.
GENERAL Holders are advised to read
carefully the Tender and Consent Memorandum for full details of,
and information on, the Offers. Requests for information in
relation to the Offers should be directed to the Dealer
Manager:
THE DEALER MANAGER J.P. Morgan Securities
Ltd. 125 London Wall London EC2Y 5AJ United Kingdom
For information by telephone: +44 (0) 20 7779 2468 Attention:
Ryan O'Grady - FIG Syndicate Email: ryan.ogrady@jpmorgan.com
For information by telephone: +44 (0) 20 7777 1333 Attention:
Sebastien Bamsey - Liability Management Email:
sebastien.m.bamsey@jpmorgan.com
Requests for information, documents or materials relating to the
Offers should be directed to the Tender and Tabulation Agent:
THE TENDER AND TABULATION AGENT Lucid Issuer
Services Limited Leroy House 436 Essex Road London N1 3QP
United Kingdom
For information by telephone: +44 20 7704 0880 For information
by facsimile: +44 20 7067 9098 Attention: Yves Theis / David
Shilson Email: aib@lucid-is.com
This announcement must be read in conjunction
with the Tender and Consent Memorandum.
This announcement does not constitute an offer to sell or buy or
the solicitation of an offer to sell or buy the Notes or PPS.
For information by telephone: +44 (0) 20 7779 2468 Attention:
Ryan O'Grady FIG Syndicate Email: ryan.ogrady@jpmorgan.com For
information by telephone: +44 (0) 20 7777 1333 Attention: Sebastien
Bamsey Liability Management Email: sebastien.m.bamsey@jpmorgan.com
For information by telephone: +44 20 7704 0880 For information by
facsimile: +44 20 7067 9098 Attention: Yves Theis / David Shilson
Email: aib@lucid-is.com
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