Monday, September 25, 2017/2:10 AM/ NSE
Guaranty Trust Bank Plc. (“GTBank”) intends to launch an invitation to holders of its U.S. $400 Million 6.000 per cent. Notes due 2018 (the Notes) to tender any and all of their Notes for purchase by GTBank in exchange for cash (the Offer).
Through the Offer, GTBank seeks to deploy its available U.S. dollar liquidity to the repurchase of the Notes ahead of the scheduled maturity in November 2018. This liability management exercise allows GTBank to efficiently manage its liquidity by addressing debt maturing in 2018. The extent to which this goal can be achieved through the Offer will depend on the number of Notes that will be tendered in the Offer, given the voluntary nature of the Offer. The Notes purchased by GTBank under the Offer will be cancelled.
The commencement and settlement dates for the Offer are September 25, 2017 and October 05, 2017 respectively.
GTBank has 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.
1. GTBank Q2 2017 Results Review - Pausing for Breath After Strong YTD Gains
2. GTBank Reports Q2 2017 Results - Non-Interest Income Declined by 67% YoY
3. GTBank Records Net Interest Income Growth of Over 60% in Q1 2017
4. Guaranty Trust Bank Plc - Notice of Effectiveness of Issuer Substitution
5. Guaranty Trust Bank Plc Announces Board Meeting Date and Closed Period
6. Guaranty Trust Bank Plc - Management expects higher earnings in 2017
7. Corporate Earnings for the Week Ending 100317 – GUARANTY Declares N99.4bn Profit
8. GUARANTY Declares N132.3bn PAT in 2016 Audited Results;Proposes N1.75kobo Final Dividend,(SP:N25.87k
9. Hearing on Suit by Aderinokun s Daughter against GTBank Others Fixed for March 24
10. GTBank Appoints Jubril Mobolaji Lawal as an Executive Director
11. GTBank Appoints Mr. Erhi Obebeduo as Company Secretary
12. Guaranty Bank Plc Holds Board Meeting on Jan 25th 2017
13. GTBank Appoints Babatunde Soyoye as an Independent Non-Executive Director
14. GTBank Q3 2016 Results Review- Limited Changes to Earnings ests and Price Target
15. GUARANTY Shares Rated Neutral Reports Significant Increase in Loan Loss Provisions in Q3 16 Results