MEXICO CITY, Sept. 27, 2018 /PRNewswire/ — Banco Santander (México), S.A., Institución de Banca Múltiple, Grupo Financiero Santander México (BMV: BSMX; NYSE: BSMX) ("Banco Santander México" or the "Bank") has announced the expiration, as of 5:00 p.m., New York City time, of its previously announced cash tender offer (the "Tender Offer") for any and all of its outstanding 5.95% Tier 2 subordinated preferred capital notes due 2024 (the "2024 Notes").
Approximately U.S.$1,221,907,000 in aggregate principal amount of the 2024 Notes subject to the Tender Offer were validly tendered and not validly withdrawn on or prior to 5:00 p.m., New York City time, on September 26, 2018 (the "Expiration Date"), and an additional U.S.$1,000,000 in aggregate principal amount of the 2024 Notes had been submitted pursuant to Notice of Guaranteed Delivery procedures and remain subject to delivery of the underlying notes, as further described below.
Banco Santander México expects to accept for purchase all of the 2024 Notes validly tendered and not validly withdrawn at or prior to the Expiration Date and expects to make payment for such notes on October 1, 2018 (the "Settlement Date"). Holders of 2024 Notes subject to the Tender Offer who validly tendered and did not validly withdraw their 2024 Notes prior to the Expiration Date will receive the consideration for the 2024 Notes plus accrued and unpaid interest on the principal amount of such 2024 Notes up to, but not including, the Settlement Date.
Payment for the 2024 Notes tendered and accepted for payment pursuant to Notice […]