Bank of Cyprus launches tender offer for tier 2 capital notes

Chicago, April 13 – Bank of Cyprus PCL started a tender offer on Tuesday for its €250 million fixed-rate reset tier 2 capital notes due January 2027 (ISIN: XS1551761569), according to a notice.

The bank is offering to buy the notes at 105.5 up to a maximum amount of notes that will be determined after the pricing of the new notes.

The offer is subject to the satisfaction of a new issue condition.

Potentially, the acceptance amount could be scaled if more tenders are received than the bank will accept.

Tender instructions are due by 11 a.m. ET on April 20.

Results will be announced on April 21 and settlement is expected on April 23.

Dealer managers for the offer are Goldman Sachs International (44 20 7774 9862, liabilitymanagement.eu@gs.com) and HSBC Continental Europe (+44 20 7992 6237, LM_emea@hsbc.com).

Lucid Issuer Services Ltd. is the tender agent for the offer (+44 20 7704 0880, bankofcyprus@lucid-is.com).

Based in Nicosia, Cyprus, the Bank of Cyprus is a banking and financial services group.

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