TBC Bank (GB:TBCG) has released an update.
TBC Bank Group PLC’s subsidiary, JSC TBC Bank, is inviting holders of its $125 million 10.775% Perpetual Subordinated Callable Additional Tier 1 Capital Notes to tender their notes for cash. The offer includes payment of accrued interest and aims to manage the bank’s financial liabilities while providing liquidity amid regional geopolitical uncertainties. The National Bank of Georgia has approved the repurchase and the funds for the offer will come from the bank’s existing cash reserves.
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