Joby Aviation closes $591 million stock offering with full underwriter option
LONDON - Vanquis Banking Group PLC announced Wednesday it will repurchase £58.5 million of its outstanding £200 million Fixed Rate Reset Subordinated Tier 2 Notes due 2032, representing the final results of its tender offer that expired on September 30.
The banking group will purchase the notes at a price of 100.50% of face value, according to a company statement. Following the repurchase, £141.5 million of the notes will remain outstanding. The settlement date for the tender offer is expected to be October 2.
The tender offer, which was launched on September 23, was subject to a new financing condition that is expected to be satisfied following the settlement of new notes issuance on October 1.
The company initially announced an indicative maximum acceptance amount of £60 million for the offer but finalized the acceptance amount at £58.5 million based on the total notes tendered. All validly tendered notes were accepted without any pro-ration factor applied.
The notes, which carry the ISIN code XS2397348801, have an optional redemption date between October 13, 2026, and January 13, 2027.
Morgan Stanley & Co. International plc acted as the sole dealer manager for the transaction, while Kroll Issuer Services Limited served as the tender agent.
All notes repurchased through this offer will be canceled, the company stated in its press release.
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