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Banca Popolare di Sondrio S.p.A - Tender Offer 2024 (XS) - Launch

Banca Popolare di Sondrio S.p.A. - Tender Offer in respect of €200,000,000 Fixed Rate Reset Subordinated Notes due 30 July 2029 - XS2034847637
 

04 MARCH 2024


Full announcement including disclaimers and offer/distribution restrictions available via Luxse


Sondrio, 4 March 2024. Banca Popolare di Sondrio S.p.A. (the Offeror) hereby announces the invitation to the holders (Noteholders) of its €200,000,000 Fixed Rate Reset Subordinated Notes due 30 July 2029 (ISIN: XS2034847637) issued by the Offeror (the Notes) to tender any and all their Notes for purchase by the Offeror for cash (the Offer) subject to the satisfaction (or waiver) of the New Financing Condition (as defined below) and the other conditions described in the tender offer memorandum dated 4 March 2024 (the Tender Offer Memorandum) prepared in connection with the Offer, and subject to the offer and distribution restrictions set out below. Capitalised terms used herein but not defined have the meanings given to them in the Tender Offer Memorandum, which is available, subject to eligibility and registration on the offer website (the “Offer Website”): https://projects.morrowsodali.com/popso.

The Offer and the New Notes issuance are part of the Offeror’s proactive management of its financing structure. The Offer provides Noteholders with the opportunity to sell their current holdings in the Notes and to subscribe to the issuance of the New Notes, as more fully described in the Tender Offer Memorandum. Notes that are not successfully tendered for purchase pursuant to the Offer and accepted by the Offeror will remain outstanding in accordance with their terms and conditions.


The Offeror is therefore inviting all Noteholders (subject to the satisfaction (or waiver) of the New Financing Condition and the other restrictions described in the Tender Offer Memorandum) to offer any and all their Notes for sale to it on the terms set out in the Tender Offer Memorandum.



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