Admiral Markets gives results of buyback offer for tier 2 bonds

By Mary-Katherine Stinson

Lexington, Ky., June 5 – Admiral Markets AS announced the results of its offer to repurchase up to 18,268 of its tier 2 bonds, according to a press release.

The buyback offer for the tier 2 bonds due Dec. 28, 2027 (ISIN: EE3300111251), with a nominal value of €100 per bond, expired on June 2.

Orders were received from 60 investors to repurchase 4,733 of the bonds at a fixed price of €104.53 per bond. The total buyback price breaks down into €100 nominal value, a €1 bonus and €3.53 in accrued interest per bond.

Each investor can sell back all the bonds specified in the buyback order. All investors were able to offer their bonds to Admiral Markets for repurchase on equal terms.

Settlement will be June 7.

Current bond investors were able to offer their bonds for repurchase during the period from 3 a.m. ET on May 23 to 9 a.m. ET on June 2.

The bond buyback was offered as a part of a restructuring plan.

Admiral Markets plans to merge with Admirals Group AS at the beginning of 2024.

To prepare for the merger, Admiral Markets intends to withdraw its Estonian investment company license issued by the Financial Supervision and Resolution Authority in the second half of this year, presumably in August.

Admiral Markets is an investment firm based in Tallinn, Estonia.

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