Tender Offer and Consent Solicitation

Byblos Bank S.A.L.

Press Release - US$300 million notes due 2021 tender offer and consent solicitation

30 June 2020

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT.

Byblos Bank (the "Bank") refers to the tender offer and consent solicitation in respect of its US$300 million notes due 2021 (the "Notes") pursuant to which Noteholders were invited to tender their Notes for purchase by the Bank, subject to the terms more fully set out in the Tender Offer and Consent Solicitation Memorandum dated 28 May 2020 (the "Tender Offer and Consent Solicitation Memorandum"). Capitalised terms in this announcement shall have the meanings given to them in the Tender Offer and Consent Solicitation Memorandum.

As announced on 19 June 2020, Noteholders that had not then already tendered their Notes had an additional period until 10:00 a.m. (Beirut time) on 26 June 2020 to tender their Notes under the Tender Offer and Consent Solicitation Memorandum. 

The Bank hereby confirms that pursuant to the Tender Offer and Consent Solicitation Memorandum the Bank has repurchased an aggregate nominal principal amount of Notes equal to $296,103,000 (the "Repurchased Notes"). The Bank paid the Tender Offer Consideration in respect of the Repurchased Notes on 29 June 2020, as anticipated in the Tender Offer and Consent Solicitation Memorandum. As a result, the Tender Offer has now completed.

The Notes that were not validly tendered pursuant to the Tender Offer and Consent Solicitation Memorandum have been redeemed in full at the Redemption Amount in accordance with the terms and conditions of the Notes (as amended pursuant to the Resolution of Noteholders passed at the meeting of Noteholders on 19 June 2020). Any Noteholders of such Notes are advised to contact the Bank.