GTBank Announces Final Results for Intl Cash Tender Offer in Respect of U.S $400M 6.000 percent


Kindly be informed that, Guaranty Trust Bank Plc (GTBank) on September 25, 2017, invited holders of its U.S. $400,000.000 6.000 per cent. Notes due 2018 (the Securities) to tender any and all of their Securities for purchase by GTBank for cash (One Offer) on the terms of, and subject to the conditions contained in, a tender offer memorandum dated September 25, 2017 (the Tender Offer Memorandum).

According to information provided by Lucid Issuer Services Limited (the Tender Agent] for the Offer. U.S.$123,066,000 in aggregate principal amount of the Securities were validly tendered before the Expiration Deadline and not withdrawn. The outstanding principal amount following the offer is U.5. $276,934,000. No Securities were tendered through the guaranteed delivery procedures described in the Tender Offer Memorandum. The Settlement Date will be October 5, 2017.

GTBank retained the services of Lucid issuer Services Limited as Tender Agent and Exotix Partners LLP, J.P. Morgan Securities Plc and Morgan Stanley & Co. International Plc as Dealer Managers in connection with the Offer. 

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of and also sits on the board of Students In Business Awards, (SIBA).


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