esure Group Plc - Tender Offer - Launch

esure Group plc launches cash Tender Offer

13 JUNE 2023

Full announcement including disclaimers and offer restrictions available via Lonse (Source: esure Group plc)

"esure Group plc (the Offeror) announces today that it is inviting holders of its outstanding £125,000,000 6.75 per cent. Subordinated Notes due 2024 (ISIN: XS1155568436) (the Notes) to tender their Notes for purchase by the Offeror for cash subject to the satisfaction (or waiver) 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:

Rationale

Alongside the Offer, the Offeror has announced its intention to issue a new series of sterling-denominated Reset Subordinated Notes (the New Notes), subject to market conditions. The issue of the New Notes and the Offer are intended to optimise the capital structure and debt profile of the Offeror and illustrate the Offeror's proactive approach to capital management.

Notes purchased by the Offeror pursuant to the Offer are expected to be cancelled and will not be re-issued or re-sold."

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