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Transkapitalbank extends tender for $25 million notes after results
New York, April 30 – Transkapitalbank extended its tender offer for up to $25 million of the $100 million of 10% loan participation notes due 2020 issued by Transregionalcapital DAC after publishing its financial statements for 2017, according to a notice.
The new expiration is 11 a.m. ET on May 7, delayed from 11 a.m. ET on May 3.
Settlement is now planned for May 10 instead of May 8.
Holders who tendered before the financial statements were published may revoke their tenders, Transkapitalbank said.
The tender began on April 20.
As announced, the company is offering $500 per $1,000 principal amount for the notes plus accrued interest.
Transkapitalbank said that it is carrying out the tender in order to reduce the cost of its debt. It will use available cash to fund the tender.
Citigroup Global Markets Ltd. (+44 20 7986 8969 or liabilitymanagement.europe@citi.com) is dealer manager, and Citibank, NA (citiexchanges@citi.com or +44 20 7508 3867) is tender agent.
Transkapitalbank is a Moscow-based bank.
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