Capital One Financial Corporation (“COF”) (NYSE: COF) announced today that it received the final results of its previously announced offer to exchange any and all of its outstanding 6.750% Senior Notes due 2017 (the “Old Notes”) for a combination of new Senior Notes due 2023 (the “New Notes”) and cash. The exchange offer was conducted by COF upon the terms and subject to the conditions set forth in the Confidential Offering Circular for the exchange offer, dated May 17, 2013 (the “Confidential Offering Circular”), and related letter of transmittal.
The exchange offer expired at 11:59 p.m., New York City time, on June 14, 2013.
The following table indicates, among other things, the principal amount of the Old Notes validly tendered for exchange as of the final participation date:
|CUSIP Number||Title of Old Notes||Cumulative Principal Amount Tendered as of the Expiration Date||Anticipated Principal Amount Outstanding Following Final Settlement Date|
|14040H AR6||6.750% Senior Notes due 2017||$762,906,000 (56.89%)||$578,139,000|
In accordance with the terms of the exchange offer, COF has accepted or will accept all of the Old Notes that were validly tendered for exchange. COF expects final settlement to take place on June 18, 2013.
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