#Tender Offer #Bermuda #Hamilton #Bellemeade Re #Mortgage-Linked Notes

Bellemeade Re 2021-3 Ltd. Updates Tender Offer Results

On August 6, 2025, Bellemeade Re 2021-3 Ltd. revealed the outcome of its recent tender offer to acquire various classes of their outstanding mortgage-linked notes. This announcement highlights the issuer’s compliance with the specified conditions outlined in the Offer to Purchase document dated July 30, 2025.

As of 5 PM on August 5, 2025, a total of approximately $193.4 million of the original principal amount of the notes was validly tendered and not withdrawn. The tender offer was designed to buy back two specific classes of notes:

1. BMIR 2021-3 M1-C
- CUSIP: 078777AD1
- Original Principal Amount: $81,397,000
- Percentage Tendered and Accepted: 95.95%
- Accepted Amount: $78,097,000

2. BMIR 2021-3 M-2
- CUSIP: 078777AE9
- Original Principal Amount: $115,254,000
- Percentage Tendered and Accepted: 100.00%
- Accepted Amount: $115,254,000

This buyback indicates a strong interest from the market participants, especially seeing that the M-2 class was fully accepted. The date of settlement for the accepted notes is projected to fall on August 7, 2025. Bellemeade's offering has attracted attention, not only due to the substantial amounts involved but also because of the issuer's strategic approach towards optimizing its debt structure.

This move also signals to stakeholders, including investors and industry analysts, that Bellemeade Re is actively managing its liabilities and working to enhance its financial position in the current economic environment. Moreover, it emphasizes the agility that the company demonstrates in responding to market conditions.

BofA Securities, Inc. has been designated as the Dealer Manager for the tender offer. Investors needing further details regarding the offer terms can reach out directly to BofA's dedicated lines. Meanwhile, any requests for the offer documents may be directed to Global Bondholder Services Corporation.

The announcement, however, makes it clear that participation in the offer is contingent upon compliance with various jurisdictions and securities laws. Consequently, Bellemeade Re advises interested parties that restrictions may apply, and strict adherence to the applicable regulations is essential.

In conclusion, Bellemeade Re 2021-3 Ltd.'s tender offer serves as a strategic initiative reflective of the company's commitment to financial integrity and sustainability in managing its mortgage-linked assets. As investor confidence continues to be a focal point, these moves underlie the efforts to maintain a sound financial structure in an evolving market landscape.