Credit Suisse International Announces Final Results of Offers for Certain Notes
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT
NEW YORK, March 23, 2023 /PRNewswire/ -- Credit Suisse International (the Offeror) announces today the final results of its invitations to holders of the outstanding securities described in the table below (together, the Notes and each series of such Notes a series) to tender such Notes for purchase by the Offeror for cash (such invitations, the Offers). The Offers were announced on March 15, 2023 and were made on the terms and subject to the conditions contained in the offer to purchase dated March 15, 2023 (the Offer to Purchase) prepared by the Offeror and the accompanying notice of guaranteed delivery (the Notice of Guaranteed Delivery and, together with the Offer to Purchase, the Tender Offer Documents). Capitalised terms used in this announcement but not defined have the meanings given to them in the Offer to Purchase.
The Expiration Date for the Offers was 5:00 p.m. (New York City time) on March 22, 2023. The Initial Settlement Date will be March 24, 2023 and the Guaranteed Delivery Settlement Date will be March 28, 2023.
According to information provided by D.F. King & Co., Inc., the Information Agent and Tender Agent in connection with the Offers, $571,415,000 combined aggregate principal amount of the Notes were validly tendered prior to or at the Expiration Date and not validly withdrawn. In addition, $4,000,000 combined aggregate principal amount of Notes were tendered pursuant to the Guaranteed Delivery Procedures and remain subject to the Holders' performance of the delivery requirements under such procedures. The table below provides certain information about the Offers, including the aggregate principal amount of each series of Notes validly tendered and not validly withdrawn prior to the Expiration Date and the aggregate principal amount of Notes reflected in Notices of Guaranteed Delivery delivered at or prior to the Expiration Date pursuant to the Tender Offer Documents.
Acceptance |
Title of Notes |
CUSIP / ISIN |
Principal Amount |
Total |
Principal Amount |
Principal Amount |
Principal Amount |
1 |
1.000% Notes |
22550L2D2 / |
$1,917 |
$980.00 |
136,563,000 |
136,563,000 |
— |
2 |
0.520% Notes |
22550L2F7 / |
$1,232 |
$970.00 |
147,392,000 |
147,392,000 |
500,000 |
3 |
Floating Rate Notes |
22550UAD3 / |
$591 |
$950.00 |
15,120,000 |
15,120,000 |
3,000,000 |
4 |
0.495% Notes |
22550L2E0 / |
$923 |
$900.00 |
17,485,000 |
17,485,000 |
— |
5 |
Floating Rate Notes |
22550UAB7 / |
$946 |
$950.00 |
20,912,000 |
20,912,000 |
— |
6 |
4.750% Notes |
22550L2J9 / |
$1,121 |
$950.00 |
61,144,000 |
61,144,000 |
250,000 |
7 |
3.625% Notes |
22546QAP2 / |
$2,882 |
$925.00 |
74,018,000 |
74,018,000 |
— |
8 |
3.700% Notes |
22550L2H3 / |
$1,991 |
$925.00 |
59,742,000 |
59,742,000 |
— |
9 |
Floating Rate Notes |
22550UAF8 / |
$333 |
$900.00 |
3,900,000 |
3,900,000 |
— |
10 |
2.950% Notes |
22550L2C4 / |
$1,266 |
$900.00 |
35,139,000 |
35,139,000 |
250,000 |
(1) |
The Total Consideration for each series of Notes (such consideration, the "Total Consideration") payable per each $1,000 principal amount of such series of Notes validly tendered for purchase. The Total Consideration does not include the applicable Accrued Coupon Payment, which will be payable in cash in addition to the applicable Total Consideration. |
|||||||||||
(2) |
The amounts exclude the principal amounts of Notes for which Holders have complied with certain procedures applicable to guaranteed delivery pursuant to the Guaranteed Delivery Procedures. Such amounts remain subject to the Guaranteed Delivery Procedures. Notes tendered pursuant to the Guaranteed Delivery Procedures are required to be tendered at or prior to 5:00 p.m., New York City time, on March 24, 2023. |
|||||||||||
Overall, $571,415,000 combined aggregate principal amount of Notes have been accepted for purchase (excluding Notes delivered pursuant to the Guaranteed Delivery Procedures). The Maximum Purchase Consideration Condition has been satisfied with respect to the Offers in respect of the series of Notes with Acceptance Priority Levels of 1-10. Accordingly, all Notes of those series that have been validly tendered and not validly withdrawn at or prior to the Expiration Date have been accepted for purchase.
Upon the terms and subject to the conditions set forth in the Tender Offer Documents, Holders whose Notes have been accepted for purchase in the Offers will receive the applicable Total Consideration for each $1,000 principal amount of such Notes in cash on the Initial Settlement Date or Guaranteed Delivery Settlement Date. In addition to the applicable Total Consideration, Holders whose Notes are accepted for purchase will be paid the Accrued Coupon Payment. Interest will cease to accrue on the Initial Settlement Date for all Notes accepted in the Offers, including those tendered through the Guaranteed Delivery Procedures.
Credit Suisse Securities (USA) LLC acted as Dealer Manager and D.F. King & Co., Inc. acted as Information and Tender Agent.
The Dealer Manager
Credit Suisse Securities (USA) LLC
Eleven Madison Avenue, 4th Floor
New York, New York 10010
United States
Telephone:
Within the United States:
(800) 820-1653 (U.S. toll free)
(212) 538-2147 (Collect)
Outside the United States:
+44 20 7883 8763
Attention: Liability Management Group
Email: [email protected]
The Information and Tender Agent
D.F. King & Co., Inc.
48 Wall Street New York, NY 10005
United States
Banks and Brokers (Collect):
+1 (212) 269 5550
All others (U.S. toll free):
+1 (800) 714 3311
Attention: Michael Horthman
Email: [email protected]
DISCLAIMER This announcement must be read in conjunction with the Offer to Purchase. No offer or invitation to acquire any Notes is being made pursuant to this announcement. The distribution of this announcement and the Offer to Purchase in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Offer to Purchase comes are required by each of the Offeror, the Dealer Manager, the Information and Tender Agent and the Issuer to inform themselves about, and to observe, any such restrictions.
SOURCE Credit Suisse International
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