Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2023 > News item |
Credit Suisse accepts $571.42 million notes in 10-series tender offer
By Marisa Wong
Los Angeles, March 23 – Credit Suisse International announced the final results of its March 15 invitations to holders of outstanding securities from 10 series to tender their securities for cash for an aggregate total consideration, excluding interest, of up to $2.5 billion, according to a press release.
The company has accepted for purchase all $571,415,000 combined aggregate principal amount of notes tendered by the expiration of the offer. That amount excludes $4 million combined aggregate principal amount of notes that remains subject to guaranteed delivery procedures.
Holders had tendered the following securities, issued by Credit Suisse AG, New York branch, listed in order of acceptance priority level and with the total consideration per $1,000 principal amount:
• $136,563,000 of the $1,917,000,000 outstanding 1% notes due May 5, 2023 (Cusip: 22550L2D2) at $980;
• $147,392,000 (excluding $500,000 tendered under guaranteed delivery) of the $1,232,000,000 outstanding 0.52% notes due Aug. 9, 2023 (Cusip: 22550L2F7) at $970;
• $15.12 million (excluding $3 million tendered under guaranteed delivery) of the $591 million floating-rate notes due Aug. 9, 2023 (Cusip: 22550UAD3) at $950;
• $17,485,000 of the $923 million 0.495% notes due Feb. 2, 2024 (Cusip: 22550L2E0) at $900;
• $20,912,000 of the $946 million floating-rate notes due Feb. 2, 2024 (Cusip: 22550UAB7) at $950;
• $61,144,000 (excluding $250,000 tendered under guaranteed delivery) of the $1,121,000,000 4.75% notes due Aug. 9, 2024 (Cusip: 22550L2J9) at $950;
• $74,018,000 of the $2,882,000 3.625% notes due Sept. 9, 2024 (Cusip: 22546QAP2) at $925;
• $59,742,000 of the $1,991,000,000 3.7% notes due Feb. 21, 2025 (Cusip: 22550L2H3) at $925;
• $3.9 million of the $333 million floating-rate notes due Feb. 21, 2025 (Cusip: 22550UAF8) at $900; and
• $35,139,000 (excluding $250,000 tendered under guaranteed delivery) of the $1,266,000,000 2.95% notes due April 9, 2025 (Cusip: 22550L2C4) at $900.
The company will also pay accrued interest to but excluding the settlement date.
The offer expired at 5 p.m. ET on March 22, and initial settlement is expected to occur on March 24. Settlement of tenders under guaranteed delivery procedures is slated for March 28.
Credit Suisse Securities (USA) LLC (800 820-1653, 212 538-2147, +44 20 7883 8763; americas.lm@credit-suisse.com) is the dealer manager.
The information and tender agent is D.F. King & Co. Inc. (212 269-5550, 800 714-3311; attn.: Michael Horthman; cs@dfking.com).
The financial services provider is based in Zurich.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.