Zions seeks one-time waiver under 4.5% notes due 2023 for ZB merger

By Susanna Moon

Chicago, Sept. 17 – Zions Bancorporation is asking holders for a one-time waiver under its 4.5% senior notes due June 13, 2023 for a planned merger with wholly owned subsidiary ZB, NA.

The consent solicitation will end at 5 p.m. ET on Sept. 25.

The consent payment will be $2.50 per $1,000 principal amount.

If consents are received from holders of at least 66 2/3% of the outstanding notes, the waiver will become effective immediately upon payment of the consent fee, according to a company announcement.

TD Securities (USA) LLC (212 827-2833 or Mark.T.Watkins@tdsecurities.com) is the solicitation agent. Global Bondholder Services Corp. (212 430-3774, 866 794-2200 or contact@gbsc-usa.com) is the information and tabulation agent.

Zions is a financial services company based in Salt Lake City.

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