Business
Tender Offer - Maximum Acceptance
Vanquis Banking Group PLC announced the indicative Maximum Acceptance Amount for its tender offer related to its outstanding £200,000,000 Fixed Rate Reset Subordinated Tier 2 Notes due 2032. The company is inviting holders to tender their notes for purchase, with the maximum aggregate principal amount of notes accepted being linked to the amount of new notes issued. The indicative Maximum Acceptance Amount is £60,000,000, though the company retains the right to purchase more or amend this amount, subject to applicable laws. The final amount of Notes accepted will be announced later. Disclaimer*
About this update from Vanquis Banking Group Plc
[{"type":"text","content":"\n\nNOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA (THE \"UNITED STATES\") OR TO ANY U.S. PERSON (AS DEFINED BELOW) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. SEE \"OFFER AND DISTRIBUTION RESTRICTIONS\" BELOW.\n23 September 2025\nVANQUIS BANKING GROUP PLC ANNOUNCES MAXIMUM ACCEPTANCE AMOUNT IN RELATION TO ITS TENDER OFFER\nOn 23 September 2025, Vanquis Banking Group plc (the \"Company\") launched an invitation to holders of its outstanding £200,000,000 Fixed Rate Reset Subordinated Tier 2 Notes due 2032 (ISIN: XS2397348801) (the \"Notes\") to tender such Notes for purchase by the Company for cash up to a maximum aggregate principal amount of the Notes equal to the aggregate principal amount of New Notes issued (the \"Maximum Acceptance Amount\") (such invitation the \"Offer\"). The Offer is being made on the terms and subject to the conditions contained in the tender offer memorandum dated 23 September 2025 (the \"Tender Offer Memorandum\") and is subject to the offer restrictions set out below and as more fully described in the Tender Offer Memorandum.\nCopies of the Tender Offer Memorandum are (subject to offer restrictions) available from the Tender Agent, whose contact details are set out below. Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Tender Offer Memorandum.\nThe Company today announces that, following the pricing of the New Notes, the indicative Maximum Acceptance Amount in relation to the Offer is £60,000,000. The Company reserves the right, in its sole and absolute discretion, to purchase more than the Maximum Acceptance Amount or to amend the Maximum Acceptance Amount, subject to applicable law and as further described in the Tender Offer Memorandum.\nThe Offer remains subject to the conditions and restrictions set out in the Tender Offer Memorandum. The final aggregate principal amount of the Notes accepted for purchase pursuant to, and subject to the terms and conditions of, the Offer will be announced in the results announcement.\nFull det...