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URSA Bank Extends its Bond Buy-back with a Tender Offer for its Euro-denominated Notes

March 17, 2009
URSA Bank announced today that it is inviting holders of the ?400,000,000 7.0% Loan Participation Notes due 2010 (ISIN: XS0301291729) and the ?300,000,000 8.3% Loan Participation Notes due 2011 (ISIN: XS0274663383) to tender for cash up to ?60,000,000 principal amount per series of Notes and no more than ?100,000,000 principal amount across both series of Notes in a Modified Dutch Auction.

The purchase price per ?1,000 principal amount will be no less than ?900 for the 2010 Notes and no less than ?780 for the 2011 Notes. URSA Bank will determine the purchase price in respect of each series of Notes and the aggregate principal amount of each series of Notes to be purchased based on the Modified Dutch Auction procedure.

The Invitation expires at 4pm (London time) on Monday, 23 March 2009, unless extended or terminated. The aggregate principal amount of each series of Notes accepted for purchase, the purchase price in respect of each series of Notes and pro-ration factor, if any, for each series of Notes will be announced at or around 10am (London time) on Tuesday, 24 March 2009. Settlement is expected to occur on Thursday, 26 March 2009.
  • Status
  • Country of risk
  • Redemption (put/call option)
    *** (***)
  • Amount
    202,170,000 EUR
  • М/S&P/F
    — / — / —
Company — URSA Bank
  • Full name
    URSA Bank
  • Registration country
  • Industry