Business
Financial Impact of Tender Offers
Financial Impact of Tender Offers.
About this update from Natwest Group Plc
[{"type":"text","content":"\n \n \n \n \n \n ,\n \n \n \n \n \n \n \n August 10, 2022\n \n \n \n \n \n \n \n NATWEST GROUP PLC AND NATWEST MARKETS N.V.\n \n \n -\n \n \n FINANCIAL IMPACT OF SEPARATE\n \n \n CASH\n \n \n TENDER\n \n \n OFFERS\n \n \n FOR\n \n \n CERTAIN OF THEIR RESPECTIVE OUTSTANDING\n \n \n NOTES\n \n \n \n \n \n \n \n NatWest Group plc (\"NatWest Group\") and NatWest Markets N.V. (\"NWM N.V.\") (each an \"Offeror\" and, together, the \"Offerors\") announced on 9 August 2022 the results of their separate cash tender offers (with respect to the tender offers launched by NatWest Group, the \"NatWest Group Offer\", and with respect to the tender offers launched by NWM N.V., the \"NWM N.V. Offer\", each an \"Offer\") in respect of any and all of certain series of their respective U.S. dollar denominated notes pursuant to separate offers to purchase dated August 1, 2022 (each an \"Offer to Purchase\").\n \n NatWest Group estimates the aggregate impact of the NatWest Group Offer and the NWM N.V. Offer will be a charge to income in its Q3 2022 results of approximately £56 million, with the final charge dependent on the foreign exchange rate on August 10, 2022. After taking into account the estimated effect of taxation, and based on risk weighted assets of £179.8 billion as reported for June 30, 2022, this would equate to a reduction in NatWest Group's CET1 capital ratio of approximately 3bps.\n \n \n NWM N.V. estimates the impact of the NWM N.V. Offer will be a charge to income in its Q3 2022 results of approximately €83 million. After taking into account the estimated effect of taxation, and the effect of the unwinding of a related hedging transaction with NatWest Group, NWM N.V. does not expect a material impact on its CET1 capital ratio.\n \n \n \n \n \n FORWARD-LOOKING\n STATEMENTS\n \n \n \n \n \n From time to time, the Offerors may make statements, both written and oral, regarding our assumptions, projections, expectations, intentions or beliefs about future events. These statements constitute \"forward-looking statements\". The Offerors caution that these statements may and often do vary materially from actual results. Accordingly, the Offerors cannot assure you that actual results will not differ materially from those expressed or implied by the forward-looking statements. You should read the se...