NWDB 9% Prefs Tender Offer
Posted: June 14th, 2021, 9:26 am
by Romarin99
National Westminster have issued a tender offer for NWDB at 175 pence plus accrued interest. The offer is open until June 22nd.
The current market price was already very close to the offer price. I have a significant holding but I am inclined to reject offer as the current 5.25 % is very useful, with not a great deal of alternatives around since the recent market rally. I am aware that the threat of inflation and the possible rise in interest rates to counter this would affect the share price. My concern is what are the risks for “hold outs” from Nat West ? Any thoughts would be appreciated
Re: NWDB 9% Prefs Tender Offer
Posted: June 14th, 2021, 9:54 am
by Laughton
Can I direct you to:
viewtopic.php?f=52&t=11253&start=460Posts from June 8th (page 24 on my screen but not sure if that works the same for everyone).
Re: NWDB 9% Prefs Tender Offer
Posted: June 14th, 2021, 1:11 pm
by ursaminortaur
Romarin99 wrote:National Westminster have issued a tender offer for NWDB at 175 pence plus accrued interest. The offer is open until June 22nd.
The current market price was already very close to the offer price. I have a significant holding but I am inclined to reject offer as the current 5.25 % is very useful, with not a great deal of alternatives around since the recent market rally. I am aware that the threat of inflation and the possible rise in interest rates to counter this would affect the share price. My concern is what are the risks for “hold outs” from Nat West ? Any thoughts would be appreciated
The tender offer came out on the 7th June
https://investegate.co.uk/nat.westminster-bk--natn-/rns/tender-offer/202106071556180760B/and the price then jumped at that point from a little under 170p.
https://www.hl.co.uk/shares/shares-search-results/n/natwest-bank-9-series-a-non-cm-pf-gbp-1
Re: NWDB 9% Prefs Tender Offer
Posted: June 28th, 2021, 2:32 pm
by Laughton
And the final results are:-
https://www.londonstockexchange.com/new ... r/15035739I guess we don't know what the split is between institutional and no-institutional holdings but looks like it could even be a lower take up by private holders.
Maybe Natwest need to do their sums again if they really want to scoop up all or a meningful number of these (I speak only about the 9% version as those I hold and am interested in).