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Bank of Cyprus Holdings Plc - Tender Offer - Results

BANK OF CYPRUS HOLDINGS PUBLIC LIMITED COMPANY ANNOUNCES RESULTS OF ITS CASH TENDER OFFER


20 JUNE 2023


Full announcement including disclaimers and offer restrictions available via Luxse


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"The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 19 June 2023.


As at the Expiration Deadline, the Offeror had received valid tenders of €204,483,000 in aggregate principal amount of the Capital Securities for purchase pursuant to the Offer.


The Offeror announces that it will therefore, subject to the satisfaction of the New Issue Condition on or prior to the Settlement Date, accept for purchase all Capital Securities validly tendered pursuant to the Offer in full, with no pro rata scaling.


The Purchase Price the Offeror will pay for those Capital Securities validly tendered and accepted for purchase pursuant to the Offer is 103.00 per cent. of their principal amount, and the Offeror will also pay an Accrued Interest Payment in respect of such Capital Securities.


Subject to the satisfaction of the New Issue Condition, settlement of the purchase of the relevant Capital Securities pursuant to the Offer is expected to take place on 21 June 2023, after which €15,517,000 in aggregate principal amount of the Capital Securities will remain outstanding."


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Announcement Refinancing of AT1 Capital Securities


13 JUNE 2023


Full announcement including disclaimers and offer restrictions available via Luxse


"Bank of Cyprus Holdings Public Limited Company (the ‘Company’ or ‘BOC Holdings’ and, together with its subsidiaries, the ‘Group’) announces today that the Company has successfully launched and priced an issue of €220 mn Fixed Rate Reset Perpetual Additional Tier 1 Capital Securities (the ‘New Capital Securities’)."


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BANK OF CYPRUS HOLDINGS PUBLIC LIMITED COMPANY LAUNCHES CASH TENDER OFFER


12 JUNE 2023


Full announcement including disclaimers and offer restrictions available via Luxse


"Bank of Cyprus Holdings Public Limited Company (the Offeror) announces today that it is inviting holders of its outstanding €220,000,000 Fixed Rate Reset Perpetual Additional Tier 1 Capital Securities (ISIN: XS1865594870) (the Capital Securities) to tender any and all of such Capital Securities for purchase by the Offeror for cash subject to the satisfaction of the New Issue Condition (such invitation, the Offer)."


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"Summary


A summary of certain key terms relevant to the Offer appears below:


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"Rationale


The purpose of the Offer is to provide liquidity to Holders and it is being made as part of the Bank of Cyprus group’s proactive management of its consolidated capital profile."

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