Barclays Bank PLC Announces Decrease in Tender Cap for Cash Tender Offer for 6.05% Fixed Rate Subordinated Notes Due 2017 and 5.140% Lower Tier 2 Notes Due October 2020

LONDON–(BUSINESS WIRE)– Barclays Bank PLC (the “Issuer“) announced today that with respect to its previously announced cash tender offer which commenced on March 26, 2013 (the “Tender Offer“) to holders of the Issuer’s 6.05% Fixed Rate Subordinated Notes due 2017 (CUSIP/ISIN: 06739G AE9 / US06739GAE98 / XS0334249223) and 5.140% Lower Tier 2 Notes due October 2020 (CUSIP/ISIN: 06739G BP3 / US06739GBP37) (the “Notes“), it decreased the maximum aggregate principal amount of Notes the Issuer will accept in the Tender Offer (the “Tender Cap“) from US$1,000,000,000 to US$850,000,000.

The remaining terms and conditions of the Tender Offer, which are unchanged, are set forth in an offer to purchase dated March 26, 2013 (the “Offer to Purchase“).

Holders are advised to carefully read the Offer to Purchase for full details of, and information on the procedures for participating in, the Tender Offer, as amended by this announcement. Capitalized terms used and not otherwise defined in this announcement have the meanings given to them in the Offer to Purchase.

The Issuer reserves the right, in its sole and absolute discretion, not to accept any Tender Instruction, not to purchase Notes or to extend, re-order, withdraw, terminate or amend the terms and conditions of the Tender Offer at any time following the announcement of the Tender Offer (subject to applicable laws and regulations), as described in the Offer to Purchase under the heading “The Tender Offer—Extensions, Amendments and Termination.” Details of any such extension, re-order, amendment, withdrawal or termination will be notified to the holders as soon as possible after such decision.

A tender of Notes may only be made by the submission of a valid Tender Instruction. The acceptance of Notes for purchase pursuant to the Tender Offer is subject to the satisfaction of certain financing and other conditions, including those set out in the Offer to Purchase under the heading “The Tender Offer—Conditions to the Tender Offer.”

Notes validly tendered prior to the Early Participation Deadline, including any Notes tendered prior to this announcement, may be withdrawn by or on behalf of a holder at any time prior to the Early Participation Deadline, but not thereafter, by delivering a written notice of withdrawal, or a facsimile of one, with the required information as set forth in the Offer to Purchase to the Tender Agent prior to the Early …read more
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