Black Sea Trade tenders for up to $125 million 3.5% notes due 2024

By Marisa Wong

Los Angeles, June 20 – Black Sea Trade and Development Bank is inviting holders of its outstanding $550 million 3.5% notes due 2024 (ISIN: XS2018639539) to tender their notes for purchase for cash, up to a $125 million aggregate principal amount.

The issuer offering to purchase the notes at $957.50 per $1,000 principal amount. The company will also pay accrued interest.

The offer began on June 19 and will expire at 11 a.m. ET on June 26.

Settlement is expected to be June 29.

The issuer said the purpose of the offer is to proactively manage its overall debt redemptions and liability profile.

Societe Generale is dealer manager for the tender offer, and D.F. King Ltd. is information and tender agent (https://www.dfkingltd.com/black- sea-trade-and-development-bank).

The financial and development institution is based in Thessaloniki, Greece.

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