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Piraeus Financial Holdings S.A. - Tender Offer - Results

PIRAEUS FINANCIAL HOLDINGS S.A. LAUNCHES CASH TENDER OFFER - XS2018638648

16 JANUARY 2024


Full announcement including disclaimers and offer restrictions available via Luxse



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"The Expiration Deadline for the Offer was 5.00 p.m. (Central European time) on 15 January 2024.


As at the Expiration Deadline, €293,883,000 in aggregate principal amount of the Notes were validly tendered pursuant to the Offer. The Offeror hereby announces that (subject to satisfaction or waiver of the New Issue Condition on or prior to the Settlement Date) it will accept all valid tenders of Notes for purchase pursuant to the Offer and accordingly the Final Acceptance Amount is €293,883,000. No Scaling Factor shall be applied.


The expected Settlement Date for the Offer, subject to satisfaction or waiver of the New Issue Condition, is 17 January 2024, after which €106,117,000 in aggregate principal amount of the Notes will remain outstanding. The Offeror intends to cancel those Notes accepted for purchase pursuant to the Offer.


The Offeror will, on the Settlement Date, pay for Notes validly tendered and accepted by it for purchase pursuant to the Offer (subject to the satisfaction or waiver of the New Issue Condition on or prior to the Settlement Date) a cash amount equal to 102.00 per cent. of the principal amount of Notes accepted for purchase by it pursuant to the Offer (the “Purchase Price”).


The Offeror will also pay an Accrued Interest Payment in respect of Notes accepted for purchase by it pursuant to the Offer. The Accrued Interest Payment shall be payable by the Offeror as part of the consideration under the Offer and is not, for the avoidance of doubt, a payment pursuant to the terms of the Notes."


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PIRAEUS FINANCIAL HOLDINGS S.A. LAUNCHES CASH TENDER OFFER - XS2018638648

08 JANUARY 2024


Full announcement including disclaimers and offer restrictions available via Luxse


Piraeus Financial Holdings S.A. (the "Offeror") announces today that it is inviting holders of its outstanding €400,000,000 Fixed Rate Reset Dated Subordinated Notes due 26 June 20291 issued on 26 June 2019 (ISIN: XS2018638648) (the "Notes") to tender their Notes for purchase by the Offeror for cash up to the Maximum Acceptance Amount (as defined below) subject to, among other things, 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:


Description of the Offer





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"Rationale


The purpose of the Offer is to proactively manage the refinancing of the Notes in conjunction with the issue of the New Notes (as defined below) for the purposes of the Offeror managing its capital position. The Offer also provides Holders with the opportunity to sell their Notes ahead of the Optional Redemption Date and to receive, at the sole and absolute discretion of the Offeror, priority in the allocation of the New Notes, subject to the issue of the New Notes and the selling restrictions contained in the Offering Circular (as defined below) relating to the New Notes. See "Allocation of the New Notes" below. Notes repurchased by the Offeror pursuant to the Offer will be cancelled following the Settlement Date and the obligations of the Offeror in respect of any such Notes shall be discharged."


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