TBC Bank to price dollar perpetual additional tier 1 capital notes

By Marisa Wong

Los Angeles, April 15 – TBC Bank Group plc subsidiary JSC TBC Bank is planning to issue new dollar-denominated perpetual subordinated callable additional tier 1 capital notes (B2), according to a Monday press release.

The new notes offering is expected to price and close prior to the early tender participation deadline of the bank’s concurrent tender offer for its existing 5¾% notes due 2024.

The issuer said it is making the tender offer in combination with the new notes offering as a way of managing its financial liabilities and debt maturity profile and to give holders an opportunity to extend their exposure to the issuer’s credit profile.

TBC is a bank based in Tbilisi, Georgia. The parent company is registered in England and Wales.

© 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.