Zions Bancorporation tenders for $1 billion of notes due 2021, 2022

By Rebecca Melvin

New York, June 16 – Zions Bancorp. began any-and-all cash tender offers for its $500 million of 3½% senior notes due 2021 and $500 million of 3.35% senior notes due 2022, according to a company release.

The tender offers will expire at 5 p.m. ET on June 22.

Holders who validly tender their notes prior to the expiration time will be eligible to receive a total cash consideration of $1,025 per $1,000 principal amount of 2021 notes and a total cash consideration of $1,030 per $1,000 principal amount of 2022 notes, in each case plus any accrued interest from the last interest payment date up to but excluding the settlement date, which is expected to occur on June 25.

Tendered notes may be withdrawn at any time at or prior to the expiration time.

J.P. Morgan Securities LLC (866 834-4666 or 212 834-4087) is the dealer manager. Global Bondholder Services Corp. (866 470-3800) is the information agent.

The bank holding company is based in Salt Lake City.

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