Bank of Cyprus receives €206.66 million of tenders for tier 2 notes

Chicago, April 21 – Bank of Cyprus PCL announced that it received tenders for €206,657,000 of its €250 million outstanding fixed-rate reset tier 2 capital notes due January 2027 (ISIN: XS1551761569), according to a notice.

The bank will accept all of the notes for purchase with no pro rata scaling.

As previously reported, the bank is offering to buy the notes at 105.5.

The offer is subject to the satisfaction of a new issue condition. The bank sold €300 million of new notes with the tender offer now only contingent on the settlement of the new issue.

Tender instructions were due by 11 a.m. ET on April 20.

Settlement is expected on April 23.

Dealer managers for the offer are Goldman Sachs International (+44 20 7774 9862, liabilitymanagement.eu@gs.com) and HSBC Continental Europe (+44 20 7992 6237, LM_emea@hsbc.com).

Lucid Issuer Services Ltd. is the tender agent for the offer (+44 20 7704 0880, bankofcyprus@lucid-is.com).

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.