VIVAT Announces Final Results of Tender Offer
15 April 2020 | 13:30
On 2 April 2020, VIVAT NV (VIVAT) launched its invitation to holders of its EUR 650,000,000 Fixed Rate Unsubordinated Notes due 2024 to tender such Notes for purchase for cash.
VIVAT today announces that it will accept all validly tendered Notes pursuant to the Offer for purchase for cash in an aggregate principal amount of EUR 588,835,000.
The final results of the Offer are as follows:
| Description of Notes | ISIN | Aggregate Principal Amount of Notes accepted for purchase | Interpolated Mid-Swap Rate | Purchase Yield | Purchase Price | Aggregate Principal Amount Remaining Outstanding |
| EUR 650,000,000 Fixed Rate Unsubordinated Notes due 2024 | XS1600704982 | EUR 588,835,000 | -0.276% | 1.324% | EUR 1,041.48 per EUR 1,000 | EUR 61,165,000 |
Yinhua Cao, Chief Financial Officer of VIVAT’s Executive Board:
“We are pleased with the final results of the tender offer. With a participation of over 90% of the noteholders, it has enabled VIVAT to further optimise its funding structure by efficiently applying surplus liquidity. Going forward VIVAT’s leverage ratio and interest expenses are significantly reduced which will enhance VIVAT’s financial strength.”
Please refer to the Tender Offer Memorandum and the attached final results announcement for further details regarding the Offer.