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in aggregate principal amount of the Securities were validly tendered before the Expiration Deadline and not withdrawn.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 Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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