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

By Susanna Moon

Chicago, Sept. 26 – Zions Bancorporation said it obtained 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 ended at 5 p.m. ET on Sept. 25.

Zions received consents for at least 66 2/3% of the notes outstanding, which was needed to secure the waiver, according to a company announcement.

The consent solicitation was announced Sept. 17.

The issuer said it will pay a consent fee of $2.50 per $1,000 principal amount on Sept. 26.

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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