Safra Republic Holdings Shares Tendered
HSBC Hldgs PLC
11 January 2000
The following is the text of an announcement to be
published in Luxembourg and Switzerland on 13 January
2000:
HSBC ANNOUNCES AGGREGATE PRINCIPAL AMOUNT AND ORIGINAL
MARGIN ON NOTES ISSUED IN CONNECTION WITH TENDER/EXCHANGE
OFFER FOR SAFRA REPUBLIC HOLDINGS S.A.
On 10 January 2000, HSBC Holdings plc is delivering to
holders of Safra Republic Holdings SA (SRH) common stock
either US$72.00 in cash per share tendered or US$72.00
principal amount of notes per share tendered, in each
case in accordance with the elections made by such
stockholders. This applies to stockholders who tendered
their shares by 17:00hrs Central European Time on 29
December 1999.
The total principal amount of notes issued is
US$250,000,000 of which US$1,258,000 will be delivered to
SRH stockholders who tendered their shares in exchange
for notes. The Original Margin with respect to the rate
of interest thereon will be 0.62 per cent over three
month US dollar LIBOR, with a step-up in April 2005 to
1.12 per cent.
The shares tendered by SRH common stockholders prior to
the deadline on 29 December 1999 together with the shares
already held by subsidiaries of Republic New York
Corporation represent approximately 99.38 per cent of the
SRH outstanding shares. As previously announced, HSBC has
extended the tender period for holders of SRH common
stock until 31 January 2000. This allows stockholders who
did not tender, or did not properly tender, their shares
an additional opportunity to do so. Details of this
extended tender period were published in the Luxemburger
Wort, Le Temps and Neue Zuercher Zeitung on 7 January
2000.
This advertisement has been approved solely for the
purposes of Section 57 of the Financial Services Act 1986
by HSBC Bank plc, a company regulated by the SFA for
investment business in the UK.
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