#London #Senior Notes #United Kingdom #AIB Group #Fixed-to-Floating

AIB Group plc Announces Amendments to Cash Tender Offer

AIB Group plc, a prominent player in the financial services sector, has recently updated its cash tender offer for its Fixed-to-Floating Rate Senior Notes due in 2026. This announcement was made on May 8, 2025, and it provides extensive details regarding the changes to the offer, critical dates, and conditions surrounding the tender process.

Key Changes to the Offer

The amendments primarily revolve around the reference treasury security and certain terminologies used in the tender offer documents. The latest reference treasury security has been adjusted to "3.750 percent U.S. Treasury due April 30, 2027," replacing the earlier reference which cited a different rate. Additionally, all references to "FIT3" will now read "FIT1" ensuring clarity and simplicity in the documents involved.

Timetable Adjustments

To accommodate the updated offer conditions, adjustments to the schedule of key activities have been made. Below is a summary of critical dates:

• - Commencement of the Offer: The offer was officially announced on May 8, 2025.
• - Price Determination Time: This is scheduled for 11:00 AM on May 15, 2025, marking the moment when the Dealer Manager will calculate the total consideration for the notes.
• - Withdrawal Deadline: Holders who wish to withdraw their tender instructions must do so by 5:00 PM on May 15, 2025.
• - Expiration Deadline: This deadline coincides with the withdrawal deadline, meaning holders must submit their valid instructions by the same time.
• - Announcement of Results: The results of the tender offer, including accepted amounts and total consideration, will be published shortly after the expiration deadline, which is currently expected to be on May 16, 2025.
• - Settlement Date: Anticipated to occur two business days after the expiration date, likely making it May 19, 2025.

The Offeror and Advisors Involved

To assist with the tender process, AIB Group plc has enlisted Morgan Stanley & Co. LLC as the Dealer Manager. Goodbody Stockbrokers will serve as the Structuring Adviser, and Kroll Issuer Services Limited functions as the Information and Tender Agent. Holders seeking to tender their notes can reach out to Kroll for guidance on the procedures required.

Important Information and Cautions

It’s essential for holders of the notes to read the offer documents carefully, including the terms set forth in the Offer to Purchase. The announcement serves as a valuable informational resource, though it does not constitute any form of an offer to buy or a solicitation for sales of securities. As with any financial decision, holders are encouraged to seek independent advice that considers their unique circumstances.

Restrictions and Compliance

The distribution of this announcement may face legal restrictions in certain jurisdictions. Participants in this tender offer must comply with relevant securities laws and should inform themselves about such restrictions. Notably, this tender offer is not directed to the public in jurisdictions like Ireland and the UK, unless explicitly permitted under local laws.

In conclusion, the updated cash tender offer by AIB Group plc presents an important opportunity for holders of the Fixed-to-Floating Rate Senior Notes. As the revised terms are now in effect, stakeholders should monitor the upcoming dates closely to ensure they don’t miss any significant opportunities regarding their investments.