Bank of Cyprus launches tender offer for tier 1 capital securities

Chicago, June 12 – Bank of Cyprus Holdings plc is inviting noteholders of the €220 million outstanding fixed-rate reset perpetual additional tier 1 capital securities with a first call date on Dec. 19, 2023 (ISIN: XS18655948) to tender any and all of their notes, according to a notice.

The bank is offering 103 for the notes, and accrued interest.

Tenders will not be prorated.

The offer is subject to a new issue condition. Preference may be given in allocation of the new securities to tendering noteholders.

The tender offer expires at 11 a.m. ET on June 19.

Settlement is planned for June 21.

The dealer managers are BofA Securities Europe SA (+33 1 877 01057, DG.LM-EMEA@bofa.com) and Goldman Sachs Bank Europe SE (+44 20 7774 4836, liabilitymanagement.eu@gs.com).

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, boc@is.kroll.com).

Based in Nicosia, Cyprus, the Bank of Cyprus is a banking and financial services group.

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