HSBC Announces Update On Its Tender Offer For Preferred Securities Issued By Swiss Re Capital I LP And Guaranteed By Swiss Reinsurance Company Ltd
The Offer was made upon the terms and subject to the conditions contained in the offer to purchase dated
The Offer formed part of a series of transactions, including a Concurrent Euro Tender Offer and a Concurrent Australian Dollar Tender Offer, as more fully described in the Offer to Purchase. The Concurrent Euro Tender Offer and the Concurrent Australian Dollar Tender Offer expired on
The Maximum USD Payment Amount was contingent on the results of the Concurrent Euro Tender Offer. HSBC has accepted for purchase €707,550,000 aggregate principal amount of Euro Notes pursuant to the Concurrent Euro Tender Offer, for a Euro Payable Amount of €750,003,000. Following such acceptances, the Maximum USD Payment Amount is equal to zero. The Offer is terminated as a result.
None of the Preferred Securities that have been tendered in the Offer will be accepted for purchase and no consideration will be paid or become payable to Holders of Preferred Securities who have tendered their Preferred Securities in the Offer.
Tendered Preferred Securities will be returned to the respective Holders as soon as possible.
Further Information
A complete description of the terms and conditions of the Offer was set out in the Offer to Purchase.
BofA Merrill Lynch
In U.S. Toll-Free: +1 (888) 292-0070
In Tel: +44 20 7995 2929 Email: [email protected] Attention: |
Commerzbank Aktiengesellschaft Kaiserstraße 16 (Kaiserplatz) 60311 Federal Tel: +49 69 136 59920 Email: [email protected] |
Deutsche Bank AG, Winchester House Attention:
In U.S. Toll-Free: +1 (855) 287-1922 Collect +1 (212) 250-7527
In Tel: +44 20 7545 8011 Email: [email protected]
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In Attention: Tel: +44 (0) 20 7567 0525 By email: [email protected]
In Attention: Collect: +1 (203) 719-4210 Toll free: +1 (888) 719-4210 |
TENDER AND INFORMATION AGENT |
Telephone: +44 20 7704 0880 |
The Dealer Managers do not take responsibility for the contents of this announcement. The Issuer was aware of, and had no objection to, HSBC making the Offer.
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SOURCE
A.M. Best Comments on the Ratings of Endurance Specialty Holdings, Ltd. and Its Subsidiaries
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