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Athora Netherlands begins tender offer for $575 million 6¼% notes
By Mary-Katherine Stinson
Lexington, Ky., May 23 – Athora Netherlands NV, formerly known as Vivat NV, launched a tender offer on Monday for any and all its $575 million 6¼% fixed-to-fixed-rate undated subordinated notes (ISIN: XS1717202490) with a first call date of Nov. 16, 2022, according to a press release.
Athora is offering to purchase the notes at 100.75.
The offer expires at 11 a.m. ET on May 31. Results will be announced as soon as practicable on June 1. Settlement is expected for June 7.
The deadline for notes tendered through guaranteed delivery procedures is 11 a.m. ET on June 2. The guaranteed delivery settlement date is expected to be June 8.
The offer is conditioned upon the company’s successful issuance of new euro-denominated subordinated tier 2 notes.
Noteholders who participate in the tender offer and wish to subscribe for the new notes may receive priority in the allocation of the new notes. The company stated the allocation of new notes may occur before the expiration deadline of the tender offer.
BNP Paribas and NatWest Markets NV are the dealer managers.
Kroll Issuer Services Ltd. is acting as tender agent (+44 20 7704 0880; athora@is.kroll.com; https://deals.is.kroll.com/athora).
The insurance products and services provider is based in Amstelveen, Netherlands.
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