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Final Results of AT1 Capital Notes Tender Offer
Final Results of AT1 Capital Notes Tender Offer.
About this update from Tbc Bank Group Plc
[{"type":"text","content":"\n\nNOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION IN WHICH SUCH DISTRIBUTION IS UNLAWFUL\n \nJSC TBC Bank Announces Final Results in Respect of the Offer to Purchase Any and All of Its 10.775% Perpetual Subordinated Callable Additional Tier 1 Capital Notes\n \n\nTBC Bank Group PLC announces the results of the offer to purchase launched on 19 July 2024 by its subsidiary, JSC TBC Bank (the \"Offeror\"), a joint stock company incorporated under the laws of Georgia, (the \"Tender Offer\") for cash any and all of the outstanding principal amount of its 10.775% Perpetual Subordinated Callable Additional Tier 1 Capital Notes (Regulation S ISIN: XS1843433126; Rule 144A ISIN: US48128XAB91) issued by the Offeror (the \"Notes\"). The Tender Offer was made upon the terms, and subject to the conditions, set forth in the offer to purchase dated 19 July 2024 (the \"Offer to Purchase\"). Capitalised terms used in this announcement but not defined herein have the meaning given to them in the Offer to Purchase.\nTender Results and Notes Accepted for Purchase\nThe Tender Offer expired at 5:00 pm, New York City Time, on 29 July 2024 (the \"Expiration Deadline\"). As of the Expiration Deadline, U.S.$66,594,000 in aggregate principal amount of outstanding Notes had been validly tendered and not withdrawn (the \"Tendered Notes\"). The Offeror will accept for purchase all Tendered Notes.\nSettlement\nHolders of the Tendered Notes will receive consideration of U.S.$1,001.25 per U.S.$1,000 in principal amount of Notes (the \"Tender Offer Consideration\") for such Tendered Notes. In addition to the Tender Offer Consideration, all Holders of Tendered Notes will also receive accrued and unpaid interest on such Tendered Notes, rounded to the nearest U.S.$0.01 per U.S.$1,000 in principal amount of Notes, from and including the last interest payment date up to the Settlement Date (the \"Accrued Interest\").\nThe Offeror will make payment for the Tendered Notes on the Tender Offer Settlement Date, which is expected to be on 31 July 2024 (or the Guaranteed Delivery Settlement Date, which is expected to be on 1 August 2024, in the case of Tendered Notes tendered by guaranteed delivery procedures, if any, and no additional Accrued Interest will be paid in respect of the period from the Tender Offer Settlement Date to the Guar...