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Credito Emiliano S.p.A. - Tender Offer - Final Results

CREDITO EMILIANO CONCLUDES THE TENDER OFFER ON SENIOR NON PREFERRED NOTES AND PLACEMENT OF ITS SOCIAL NOTES

26 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via Euronext


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"The New Issue Condition has been satisfied as the €500,000,000 Callable Fixed-to-Floating Rate Senior Social Notes due March 2030 (the "New Notes") have been issued by Credem today. The New Notes are issued in the form of social notes pursuant to the terms of Credem's Green, Social and Sustainability Bond Framework.


SUMMARY OF THE FINAL RESULTS OF THE BUYBACK


The Offeror has determined that the Final Acceptance Amount will be €162,039,000. Pricing in respect of the Offer took place at or around 2.00 p.m. (CEST) today and the Offeror will accept all validly tendered Notes for purchase, therefore no Pro-Ration Factor will be applied. A summary of the final results is set out below:


The Settlement Date of the Offer is expected to be 27 September 2023. On the Settlement Date, the Offeror will pay the Purchase Price Consideration and the Accrued Interest Amount to Holders who have validly tendered their Notes for purchase in respect of the Notes accepted for purchase pursuant to the Offer. All Notes acquired by the Offeror upon completion of the Offer will be cancelled in accordance with the Notes Conditions."


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CREDITO EMILIANO ANNOUNCES NON-BINDING INDICATIVE RESULTS OF THE TENDER OFFER ON ITS SENIOR NON-PREFERRED NOTES - XS2068978050

26 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via Euronext


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The Offer expired yesterday at 5.00 p.m. (CEST) (the "Offer Expiration").


Credem also issued €500,000,000 Callable Fixed-to-Floating Rate Senior Social Notes due March 2030 (the "New Notes"). The settlement of the New Notes is expected to take place today.


NON-BINDING INDICATIVE RESULTS


Subject to confirmation by the Offeror (in its sole and absolute discretion and satisfaction or waiver of the New Issue Condition) in its announcement of final results, the Offeror announces that the Indicative Final Acceptance Amount is €162,039,000 and the Offeror expects to accept all validly tendered Notes for purchase, therefore no Pro-Ration Factor will be applied.


Tender pricing will take place at or around 2.00 p.m. (CEST) today. As soon as practicable following the Pricing Time on the Pricing Date, the Offeror will announce whether, subject to what is indicated below, it will accept valid tenders of Notes and, if so, the Final Acceptance Amount, the Reference Benchmark Rate, the Purchase Yield and the Purchase Price.


The purchase by the Offeror of any Notes validly tendered in the Offer is conditional upon the successful completion (in the sole determination of the Offeror) of the New Notes Offering on terms satisfactory to the Offeror (in its sole discretion) (the "New Issue Condition")."


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CREDITO EMILIANO ANNOUNCES THE TENDER OFFER ON SENIOR NON-PREFERRED NOTES AND THE ISSUANCE OF NEW EURO DENOMINATED SENIOR PREFERRED SOCIAL NOTES - XS2068978050

18 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via Euronext


"Reggio Emilia, 18 September 2023 – Credito Emiliano S.p.A. (the "Offeror") today announced an invitation to holders of its €500,000,000 1.50% Fixed to Floating Rate Callable Senior Non-Preferred Notes due October 2025 (the "Notes"), in a principal amount outstanding of €500,000,000, to tender their Notes for purchase by the Offeror for cash (the "Offer"), targeting to purchase up to €200,000,000 in aggregate principal amount of Notes(as further described below), although the Offeror reserves the right, in its sole discretion, to accept less than such amount for purchase pursuant to the Offer.


The Offer is being made as part of the Offeror's pro-active management of its liabilities."


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Details of the Notes and summary of the Offer

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