Guaranty Trust Bank Plc said USD123 million notes were tendered for repurchasing after it invited holders to tender the USD400 million notes.
The Notes are due 2018 (the Securities) to tender any and all of their Securities for purchase by GTBank for cash (the Offer) on the terms of, and subject to the conditions contained in, a tender offer memorandum dated September 25, 2017 (the Tender Offer Memorandum).
According to information provided by Lucid Issuer Services Limited (the Tender Agent) for the Offer, U.S.$123,066,000 in aggregate principal amount of the Securities were validly tendered before the expiration Deadline and not withdrawn. The outstanding principal amount following the offer is U.S.$276,934,000. No Securities were tendered through the guaranteed delivery procedures described in the Tender Offer Memorandum. The Settlement Date will be October 5, 2017.
GTBank retained the services of Lucid Issuer Services Limited as Tender Agent and Exotix Partners LLP, J.P. Morgan Securities plc and Morgan Stanley & Co. International plc as Dealer Managers in connection with the Offer.