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

Bellemeade Re's Tender Offers

Bellemeade Re 2022-1 Ltd. and Bellemeade Re 2022-2 Ltd. have made a significant announcement regarding fixed-price cash tender offers aimed at purchasing any and all outstanding classes of mortgage-linked notes from Series 2022-1 and 2022-2. These offers are set to begin on June 17, 2025, and will be managed by BofA Securities, Inc., acting as the sole dealer manager.

Details of the Tender Offers

The entities plan to purchase specific classes of their mortgage insurance-linked notes. The offers will extend to various categories listed in the issued documents, with notable attention to the detailed calculations regarding the total consideration provided to holders who tender valid notes. This will be based on the original principal amount of the tendered notes, alongside applicable factors including the Full Tender Offer Consideration or the Late Tender Offer Consideration, as specified in the documentation.

The initial tender period will run from June 17 through July 17, 2025. Holders wishing to benefit from the early tender payment must submit their notes by 5 p.m. New York City time on July 1, 2025. Notes tendered after this early deadline but before the expiration will be eligible for the late payment terms.

Expectations Following the Tender

Bellemeade Re anticipates publishing early tender results following the July 1 cut-off, with the early settlement scheduled for July 3. Conversely, final results for notes submitted post-early tender deadline will be disclosed on July 18, leading to a settlement on July 21. However, all timelines are contingent upon prevailing circumstances and the issuers’ discretion.

Withdrawal and Additional Information

It’s crucial for holders to be aware that notes may be withdrawn until the early tender deadline of July 1, but impossible afterwards, unless specified by the issuer. Prospective participants will find complete terms and conditions outlined in the Offer to Purchase documents, accessible through the Information Agent at their dedicated website or via direct communication.

This announcement serves as an informational release, not as a direct solicitation or recommendation for holders of securities to either tender or not tender parts of their notes. Each existing holder is encouraged to make an informed decision regarding their investments enabling them to assess their situations based on the specifics outlined in the relevant Offer to Purchase.

Contact Information

For any inquiries, BofA Securities, Inc. can be reached via their published contact numbers, ensuring that current and prospective investors have adequate access to the necessary information guiding their decisions during this tendering process.

This proactive step by Bellemeade Re highlights the ongoing management of obligations linked to mortgage securities and showcases a structured approach to optimize investments for noteholders. Those involved or interested should monitor these developments closely as the tendering period progresses and results are finalized.