Exchange offer

JPMorgan Announces Results of Exchange Offer Relating to Its Alerian MLP Index ETNs and Reminds Holders That the Remaining AMJ ETNs Will Mature May 24, 2024

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木曜日, 5月 9, 2024

JPMorgan Chase & Co. (“JPMorgan Chase” or the “Firm”) and JPMorgan Chase Financial Company LLC (“JPMorgan Financial”) announced today the results of JPMorgan Financial’s offer to exchange (the “Exchange Offer”) its Alerian MLP Index ETNs due January 28, 2044 (CUSIP: 48133Q309) (the “New Notes” ) for any and all outstanding Alerian MLP Index ETNs due May 24, 2024 (CUSIP: 46625H365) issued by JPMorgan Chase (the “Old Notes”).

Key Points:

JPMorgan Chase & Co. (“JPMorgan Chase” or the “Firm”) and JPMorgan Chase Financial Company LLC (“JPMorgan Financial”) announced today the results of JPMorgan Financial’s offer to exchange (the “Exchange Offer”) its Alerian MLP Index ETNs due January 28, 2044 (CUSIP: 48133Q309) (the “New Notes” ) for any and all outstanding Alerian MLP Index ETNs due May 24, 2024 (CUSIP: 46625H365) issued by JPMorgan Chase (the “Old Notes”).
Pursuant to the Exchange Offer, JPMorgan Financial has received and accepted 19,437,415 Old Notes validly tendered and not validly withdrawn prior to the Expiration Deadline.
All conditions to the Exchange Offer were deemed satisfied or waived by JPMorgan Financial as of the Expiration Deadline.
Old Notes that have not been validly tendered and/or accepted for exchange pursuant to the Exchange Offer will remain outstanding.

Staples, Inc. Announces Commencement of Exchange Offer for Outstanding 10.75% Senior Notes due 2027 and Consent Solicitation

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金曜日, 5月 10, 2024

Retail, Office Products, Debt-to-GDP ratio, Exchange offer, ABL, Sponsor, Exchange, Consent, First Option, Solicitation, Expiration, Senior, Old, Judgement, Staples Inc., Lien, Partial, Note, Security (finance)

Therefore, the Company expects to have the necessary Consents to adopt the Proposed Amendments, assuming the consummation of the Exchange Offer and Consent Solicitation.

Key Points:

Therefore, the Company expects to have the necessary Consents to adopt the Proposed Amendments, assuming the consummation of the Exchange Offer and Consent Solicitation.
Each Eligible Holder that tenders Old Notes into the Exchange Offer will be deemed to have given its Consent to the Proposed Amendments with respect to those tendered Old Notes.
The Early Exchange Time or the Expiration Date with respect to the Exchange Offer and Consent Solicitation can be extended independently of the Withdrawal Deadline for the Exchange Offer and Consent Solicitation.
The following table sets forth the Early Exchange Consideration and Late Exchange Consideration to be offered to Eligible Holders of the Old Notes in the Exchange Offer:

Commerce Bancshares, Inc. Announces Visa Inc.’s Acceptance of Class B-1 Common Stock and Investment Securities Repositioning

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水曜日, 5月 8, 2024

Banking, Professional Services, Finance, Exchange offer, Commerce Bancshares, Sale, CBSH, Risk, Commerce, Visa Inc., Visa, Financial services

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that Visa Inc. has accepted the company’s tender of its 823,447 shares of Visa Class B-1 common stock in exchange for a combination of Visa Class B-2 common stock and Visa Class C common stock.

Key Points:

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that Visa Inc. has accepted the company’s tender of its 823,447 shares of Visa Class B-1 common stock in exchange for a combination of Visa Class B-2 common stock and Visa Class C common stock.
As a result of the exchange, Commerce marked its Visa Class C common stock to fair value and recorded a gain of $175.5 million based on the conversion privilege of the Visa Class C common stock and the closing price of Visa Class A common stock on May 3, 2024 of $268.49 per share.
The company’s Visa Class C shares are expected to continue to be marked to fair value on a recurring basis using the Visa Class A shares as evidence of orderly transactions between market participants for similar securities issued by Visa.
The company expects the repositioning to increase net interest income, reduce interest rate risk to lower rates, and improve the quality of the Company's pledgeable investment securities.

Visa Announces Expiration and Results of Exchange Offer for Class B-1 Common Stock

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月曜日, 5月 6, 2024

Banking, Fintech, Professional Services, Finance, Exchange offer, Class, Exchange, Security (finance)

Visa (NYSE:V) today announced that its Exchange Offer for Class B‑1 common stock expired on May 3, 2024.

Key Points:

Visa (NYSE:V) today announced that its Exchange Offer for Class B‑1 common stock expired on May 3, 2024.
The Exchange Offer allowed each participating holder of Class B‑1 common stock to exchange their shares of Class B‑1 common stock for a combination of Visa’s Class B‑2 common stock, Visa’s Class C common stock and, where applicable, cash in lieu of fractional shares.
Today, Visa has accepted 240,677,470 shares of Class B‑1 common stock tendered in the Exchange Offer.
Based on the number of shares that were tendered, Visa will issue in exchange:1
120,338,683 shares of Class B‑2 common stock;
47,759,832 shares of Class C common stock; and
in lieu of issuing fractional shares, Visa will pay cash based on the reported closing Class A common stock price on the NYSE as of the expiration date of $268.49.

Intercontinental Exchange, Inc. Commences Private Exchange Offer for Black Knight InfoServ LLC’s Outstanding 3.625% Senior Notes due 2028

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金曜日, 5月 3, 2024

Principal amount of ICE Notes issued in exchange for each $1,000 principal amount of BK Notes validly tendered and accepted for exchange.

Key Points:

Principal amount of ICE Notes issued in exchange for each $1,000 principal amount of BK Notes validly tendered and accepted for exchange.
Exchange Consideration involves the issuance of $970 principal amount of ICE Notes, as opposed to $1,000 principal amount of ICE Notes, for each $1,000 principal amount of BK Notes validly tendered and accepted for exchange.
Settlement of the Exchange Offer is expected to occur on or about June 5, 2024, unless ICE extends the Expiration Date or terminates the Exchange Offer.
The Exchange Offer is not conditioned upon any minimum aggregate principal amount of BK Notes being validly tendered for exchange.

Mauser Announces Final Results of Exchange Offer

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火曜日, 4月 30, 2024

Exchange offer, Person, OAK, Confidentiality, Risk, Exchange, Senior, Perception, BofA Securities, Letter, Note, Security (finance)

The final settlement date for the Exchange Offer will occur on April 30, 2024.

Key Points:

The final settlement date for the Exchange Offer will occur on April 30, 2024.
King & Co., Inc. acted as Exchange Agent and Information Agent for the Exchange Offer.
The complete terms and conditions of the Exchange Offer are set forth in the informational documents relating to the Exchange Offer.
The Exchange Offer is only being made pursuant to the Confidential Offering Memorandum related to the Exchange Offer and the related letter of transmittal.

Cumulus Media Announces Expiration and Final Results of Exchange Offer and Consent Solicitation

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木曜日, 5月 2, 2024

Exchange offer, Settlement date, CMLS, Exchange, Exercise, Senior, Old, Credit, Note, Security (finance)

The Exchange Offer expired at midnight, New York City Time, on May 1, 2024 (the "Expiration Time").

Key Points:

The Exchange Offer expired at midnight, New York City Time, on May 1, 2024 (the "Expiration Time").
In addition, neither this announcement nor the Exchange Offer was an offer to participate in the Term Loan Exchange Offer.
The Exchange Offer is conditioned upon the consummation of the Term Loan Exchange Offer and there can be no assurances that the Term Loan Exchange Offer will be consummated on the terms described in the Offering Memorandum or at all.
The Term Loan Exchange Offer is also conditioned upon the consummation of the Exchange Offer.

Cumulus Media Announces Amendment and Extension of Withdrawal Deadline and Expiration Time for Exchange Offer and Consent Solicitation

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金曜日, 4月 19, 2024

Exchange offer, Settlement date, Issuer, Exchange, Solicitation, Credit, Letter, Note, Security (finance)

The Exchange Offer and Consent Solicitation will expire at the Amended Expiration Time, unless extended or terminated.

Key Points:

The Exchange Offer and Consent Solicitation will expire at the Amended Expiration Time, unless extended or terminated.
In addition, neither this announcement nor the Exchange Offer is an offer to participate in the Term Loan Exchange Offer.
The Exchange Offer is conditioned upon the consummation of the Term Loan Exchange Offer and there can be no assurances that the Term Loan Exchange Offer will be consummated on the terms described in the Offering Memorandum or at all.
The Term Loan Exchange Offer is also conditioned upon the consummation of the Exchange Offer.

Cumulus Media Announces Further Additional Extension of Expiration Time in Exchange Offer and Consent Solicitation Relating to 6.750% Senior Secured First-Lien Notes due 2026

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木曜日, 4月 18, 2024

Exchange offer, Settlement date, CMLS, Consent, Exchange, Solicitation, Senior, Letter, Note, Security (finance)

The Exchange Offer and Consent Solicitation will expire at the Newly Extended Expiration Time, unless extended or terminated.

Key Points:

The Exchange Offer and Consent Solicitation will expire at the Newly Extended Expiration Time, unless extended or terminated.
Questions or requests for assistance related to the Exchange Offer and Consent Solicitation or for additional copies of the Exchange Offer Documents may be directed to D.F.
You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Exchange Offer and Consent Solicitation.
The Exchange Offer and Consent Solicitation is being made solely by the Offering Memorandum.

Cumulus Media Announces Further Additional Extension of Expiration Time in Exchange Offer and Consent Solicitation Relating to 6.750% Senior Secured First-Lien Notes due 2026

Retrieved on:

水曜日, 4月 17, 2024

Exchange offer, Settlement date, CMLS, Consent, Exchange, Solicitation, Senior, Letter, Note, Security (finance)

The Exchange Offer and Consent Solicitation will expire at the New Additionally Extended Expiration Time, unless extended or terminated.

Key Points:

The Exchange Offer and Consent Solicitation will expire at the New Additionally Extended Expiration Time, unless extended or terminated.
Questions or requests for assistance related to the Exchange Offer and Consent Solicitation or for additional copies of the Exchange Offer Documents may be directed to D.F.
You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Exchange Offer and Consent Solicitation.
The Exchange Offer and Consent Solicitation is being made solely by the Offering Memorandum.