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08.01.2025 10:52:57

EQS-Adhoc: grenke AG announces the buyback offer of the outstanding Additional Tier 1 bond with intention to issue a new Additional Tier 1 bond

GRENKE
17.39 CHF -15.60%
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EQS-Ad-hoc: GRENKE AG / Key word(s): Bond
grenke AG announces the buyback offer of the outstanding Additional Tier 1 bond with intention to issue a new Additional Tier 1 bond

08-Jan-2025 / 10:52 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this announcement.


grenke AG announces the buyback offer of the outstanding Additional Tier 1 bond with intention to issue a new Additional Tier 1 bond


NOT FOR DISTRIBUTION IN, WITHIN, OR TO ANY PERSON LOCATED OR RESIDING IN THE UNITED STATES OF AMERICA, ITS TERRITORIES OR ITS POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND, AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES, OR THE DISTRICT OF COLUMBIA, OR IN, WITHIN, OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE THE RELEASE, PUBLICATION, OR DISTRIBUTION OF THIS NOTICE IS UNLAWFUL.


Baden-Baden, January 8 January, 2025: GRENKE AG (“grenke AG”) will today issue an invitation to the holders of its three outstanding Additional Tier 1 bonds (as detailed below) and offer to repurchase all of their bonds in exchange for a cash payment (the “Buyback Offer”).

The Buyback Offer is made solely based on a tender offer memorandum published by grenke AG dated January 8 January, 2025 (the “Tender Offer Memorandum”) and applies to the following Additional Tier 1 bonds issued by grenke AG, with a settlement date on or around 20 January, 2025 (the “Settlement Date”), at the respective purchase prices specified below, plus accrued interest up to (and excluding) the Settlement Date.

 

ISIN Total outstanding nominal value Current coupon Next redemption date Next reset date Purchase prices
(as % of nominal value)
XS1262884171 EUR 50,000,000 7.330% March 31, 2025 March 31, 2026 100.00%
XS1689189501 EUR 75,000,000 9.723% March 31, 2025 March 31, 2028 100.25%
XS2087647645 EUR 75,000,000 5.375% September 30, 2025 March 31, 2026 97.00%

 

The Buyback Offer begins on January 8 January, 2025, and ends on January 15 January, 2025 at 5:00 p.m. (CET), unless the offer period is extended, reopened, modified, or closed as specified in the Tender Offer Memorandum.

Notifications regarding participation in the Buyback Offer must be submitted to Kroll Issuer Services Limited as the tender agent (the “Tender Agent”) in accordance with the terms of the Tender Offer Memorandum. The acceptance of bonds offered by the holders is at the sole discretion of grenke AG.

The acceptance of the Buyback Offer is also subject to the successful issue of a new euro-denominated Additional Tier 1 bond by grenke AG, subject to market conditions.

The details of the Buyback Offer are outlined in the Tender Offer Memorandum. The Tender Offer Memorandum will be available from the Tender Agent immediately following the publication of this notice.

 

Contact information:

Kroll Issuer Services Limited
32 London Bridge Street
London SE1 9SG
United Kingdom
Tel: +44 20 7704 0880
c/o: Jacek Kusion
Email: grenke@is.kroll.com
Website: https://deals.is.kroll.com/grenke

 

Further information is available from

Investor contact

Franziska Randt
Neuer Markt 2
76532 Baden-Baden
+49 7221 5007 8611
investor@grenke.de
 

Press contact

Stefan Wichmann
Neuer Markt 2
76532 Baden-Baden
+49 171 2020300
presse@grenke.d



End of Inside Information

08-Jan-2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: grenke AG
Neuer Markt 2
76532 Baden-Baden
Germany
Phone: +49 (0)7221 50 07 8611
Fax: +49 (0)7221 50 07-4218
E-mail: investor@grenke.de
Internet: www.grenke.de
ISIN: DE000A161N30
WKN: A161N3
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 2063563

 
End of Announcement EQS News Service

2063563  08-Jan-2025 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=2063563&application_name=news&site_id=finanzen_net~~~069d1026-6a45-454f-953c-2a2c4451f1d6

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