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LONDON - Shawbrook Group PLC has successfully completed a tender offer for its £75 million 9% Fixed Rate Reset Callable Subordinated Notes due 2030, with settlement expected on June 4, 2025. The financial institution announced on Monday that it will accept all of the notes that were validly tendered by the expiration deadline of 4:00 p.m. London time on May 30, 2025.
The offer, initially detailed in a memorandum dated May 22, 2025, resulted in valid tenders totaling £30,214,000 in aggregate nominal amount of the notes. Following the purchase, an aggregate nominal amount of £44,786,000 of the notes will remain outstanding.
Shawbrook Group will pay a purchase price equivalent to 100.00% of the principal amount for the accepted notes and will also cover an accrued interest payment. The completion of the new notes’ issuance on June 4 will satisfy the New Issue Condition outlined in the tender offer.
After the settlement date, Shawbrook Group plans to cancel the admission of the redeemed notes to the Official List and their trading on the Global Exchange Market of the Irish Stock Exchange plc, known as Euronext (EPA:ENX) Dublin.
Goldman Sachs International served as the Dealer Manager for the tender offer, while Kroll Issuer Services Limited acted as the Tender Agent.
This transaction is part of Shawbrook Group’s broader strategy to manage its debt efficiently. The company has not released any further details regarding the use of proceeds or future financial strategies related to this tender offer.
The information regarding this tender offer is based on a press release statement and no offer or invitation to acquire any securities is being made pursuant to this announcement.
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