Bank of Sharjah PJSC accepted for purchase $306.8 million of guaranteed notes issued by BoS Funding Ltd., subject to satisfying or waiving the new financing condition it outlined in its Sept. 2 tender offer.
The bank launched the tender offer to repurchase the $500 million of 3.374% notes due 2020 on Sept 2. It will pay a purchase price of 101% for the notes accepted for purchase and an accrued interest payment of $9.465944 per $1,000.
The buyback's settlement is slated for Sept. 19, following which the bank's outstanding aggregate principal amount of existing notes will total $193.2 million.
Arab Banking Corp., Emirates NBD Bank PJSC, First Abu Dhabi Bank PJSC and J.P. Morgan Securities PLC are serving as deal managers, while
