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Hope Bancorp Announces Extension of Time Period to Exercise Contractual Put Right of 2.00% Convertible Senior Notes
LOS ANGELES--(BUSINESS WIRE)-- Hope Bancorp, Inc. (the “Company”) (NASDAQ: HOPE) announced today that it has extended the expiration time for the previously
About this update from Hope Bancorp, Inc.
[{"type":"text","content":" LOS ANGELES--(BUSINESS WIRE)--\nHope Bancorp, Inc. (the “Company”) (NASDAQ: HOPE) announced today that it has extended the expiration time for the previously announced right of holders of its 2.00% Convertible Senior Notes due 2038 (CUSIP NUMBER 43940TAB5) (the “Notes”) to surrender their Notes for repurchase by the Company for cash pursuant to their option (the “Optional Put”) under the Indenture (the “Indenture”), dated as of May 11, 2018, between the Company and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association) as trustee and paying agent (the “Trustee” or “Paying Agent”). The opportunity to exercise the Optional Put, or validly withdraw Notes previously surrendered, now expires at 12:00 midnight New York City time at the end of the day on May 12, 2023 (the “Expiration Date”). The Optional Put was originally set to expire at 5:00p.m. New York City time on May 11, 2023. Except for the extension of the time period to exercise the Optional Put, all of the terms of the Optional Put remain unchanged.\n\n\nIn order to exercise the Optional Put and receive the repurchase price therefor, a holder must surrender the Notes for repurchase through the transmittal procedures of the Depository Trust Company (“DTC”).\n\n\nThe Company is not providing for procedures for tenders of Notes to be made by guaranteed delivery. Accordingly, you must allow sufficient time for the necessary tender procedures to be completed during the normal business hours of DTC on or prior to the Expiration Date. If you hold your Notes through a broker, dealer, commercial bank, trust company or other nominee, you should keep in mind that such entity may require you to take action with respect to the Optional Put a number of days before the Expiration Date in order for such entity to tender Notes on your behalf at or prior to the end of the Expiration Date.\n\n\nU.S. Bank Trust Company, National Association is the trustee and paying agent with respect to the Notes. Its address and email is:\n\n\nRegular Mail, Registered & Certified Mail, or Courier:\n\n\nU.S. Bank Global Corporate Trust Services\n111 E Fillmore Ave, St. Paul, MN 55107\nCorporate Trust Support & Operations\nEP-MN-WS1P\[email protected]\n\n\nThis press release is for information only and is not an offer to purchase, a solicitation of ...