REG - Bank of Cyprus Hldgs - Launch of Cash Tender Offer for AT1 Cap.Securities

Bank of Cyprus HoldingsAnnouncement

12/06/2023 09:45

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RNS Number : 3929C  Bank of Cyprus Holdings PLC  12 June 2023

Announcement

 

Launch of Cash Tender Offer for AT1 Capital
Securities

 

Nicosia, 12 June 2023

 

 

 

 

 

This announcement may contain inside information for the purposes of Article 7
of the Market Abuse Regulation (EU) 596/2014.

 

 

 

Bank of Cyprus Holdings Public Limited Company (the "Offeror") announces today
that it is inviting holders ("Holders") of its outstanding €220m Fixed Rate
Reset Perpetual Additional Tier 1 Capital Securities (ISIN: XS1865594870) (the
"Capital Securities") to tender their Capital Securities for purchase by the
Offeror for cash purchase price equal to 103.00 per cent. of the principal
amount of the Capital Securities subject to the satisfaction of the New Issue
Condition (as defined below) (such invitation, the "Offer").

The Offer is being made on the terms and subject to the conditions contained
in the tender offer memorandum dated 12 June 2023 (the "Tender Offer
Memorandum") and is subject to the Offer restrictions described in the Tender
Offer Memorandum. A summary details of the Offer can also be found in the
Tender Offer Announcement, which is attached here
(https://www.luxse.com/pdf-viewer/103644606) .

The Offeror hereby further announces its intention to issue a new series of
Fixed Rate Reset Perpetual Additional Tier 1 Capital Securities (the "New
Capital Securities"), subject to market conditions. The Offeror's purchase of
any Capital Securities validly tendered in the Offer is subject, without
limitation, to the successful completion (in the sole determination of the
Offeror) of the issue of the New Capital Securities in an aggregate principal
amount at least equal to the aggregate principal amount of Capital Securities
validly tendered and accepted for purchase pursuant to the Offer (the "New
Issue Condition").

The procedures and conditions for the allocation of the New Capital Securities
are described in the Tender Offer Memorandum.

Holders are advised to carefully read the Tender Offer Memorandum for full
details of, and information on, the procedures for participating in the Offer.

For further information, please refer to the attached Tender Offer
Announcement or contact Investor Relations at +357 22 122239 /
investors@bankofcyprus.com (mailto:investors@bankofcyprus.com) .

 

 

 

Group Profile

 

The Bank of Cyprus Group is the leading banking and financial services group
in Cyprus, providing a wide range of financial products and services which
include retail and commercial banking, finance, factoring, investment banking,
brokerage, fund management, private banking, life and general insurance. At 31
March 2023, the Bank of Cyprus Group operated through a total of 64 branches
in Cyprus, of which 4 operated as cash offices. The Bank of Cyprus Group
employed 2,883 staff worldwide. At 31 March 2023, the Group's Total Assets
amounted to €25.4 bn and Total Equity was €2.1 bn. The Bank of Cyprus
Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary
Bank of Cyprus Public Company Limited and its subsidiaries.

 

 

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