6 Dec 2010 - Tender offer results announced:

 

Results of Bradford & Bingley tender offer at:

http://production.investis.com/bb_new/rns/rnsitem?id=3882680...

Results of NRAM tender offer at:

http://production.investis.com/nram/rns/rnsitem?id=201012061...

 

In respect of the retail held PSB's both have used a 'lost in the post' excuse for not announcing the acceptance level yet and giving it an extra week.

 

In respect of the institutional issues which NRAM tendered for:

- for RCI's the acceptance level is about 48%
- for the TON's it is about 45%

The acceptance level for the B&B Guaranteed Non-voting Non-cumulative Perpetual Preferred Securities was about 69%.

9 Nov 2010:  Northern Rock (Asset Management) plc announces tender offers to holders of its outstanding £20,000,000 12.625 per cent. Perpetual Subordinated Notes (ISIN: GB0001524957), £300,000,000 8.399 per cent. Step-up Callable Perpetual Reserve Capital Instruments (ISIN: XS0117031194) and £200,000,000 7.053 per cent. Callable Perpetual Core Tier One Notes (ISIN: XS0152710439):

 

9 Nov 2010: Bradford & Bingley plc announces tender offer for three issues of its subordinated notes its outstanding £60,000,000 13 per cent. Perpetual Subordinated Bonds (ISIN: GB0002228939) and its £50,000,000 11⅝ per cent. Perpetual Subordinated Bonds (ISIN: GB0002233913) and the £150,000,000 6.462 per cent. Guaranteed Non-voting Non-cumulative Perpetual Preferred Securities Series A (ISIN: XS0148804536):

 

Anglo Irish Bank announces liability management exercise which represent a big (80% for dated and 95% for perpetual) haircut for holders of its subordinated notes:

 

 

Kent Reliance Building Society, the UK's 12th largest building society, today announces proposals for a new structure for the Kent Reliance business that provides for substantial new capital investment to support the business that can allow the Society's members to remain members of a mutual organisation. 

Former shareholders of Bradford & Bingley have gained the support of a prominent member of the Treasury Select Committee (TSC) in their fight to win compensation after the bank's forced nationalisation.

 

 

The Bradford & Bingley Compensation Scheme Valuer issued his assessments for ordinary shareholders and dated subordinated bondholders on 5 July 2010. He has assessed that neither group are entitled to compensation. Copies of the full assessment notices are available from the valuer's website at:

 

 

Northern Rock (2 June 2010) announces tender offer for upper tier 2 notes:

 

Bradford & Bingley (2 June 2010) - annouce tender offer for dated and undated subordinated notes: