Multi-asset broker Admirals has revealed a Tier 2 bond buyback offer applicable from May 23, 2023, to June 2, 2023. This bond was initially issued on December 28, 2017 (ISIN code EE3300111251), with a face value of EUR 100 per bond and a maturity date set for December 28, 2027.

Throughout the buyback request period, the broker received 4,733 buyback orders from 60 investors, with an offer of EUR 104.53 per bond. The bond's original face value stands at €100, complemented by a €1 bonus and €3.53 in interest. The bond transaction value date is scheduled for June 7, 2023, or a date close to it.

The buyback distribution option allows investors to resell all the bonds specified in their buyback orders. It's worth noting that the buyback offer is exclusively available to Admirals bond investors, following the same terms.

Additionally, Admirals had previously announced a proposed restructuring plan, encompassing a bond buyback and the merger of holding companies Admiral Markets US and Admirals Group US. In response to these plans, Admirals is set to revoke the operating license of its Estonian subsidiary, expected to take place in the latter half of this year, potentially in August 2023.

Due to these developments, all remaining rights and obligations about the bonds not repurchased by Admiral Markets under the current offering will be transferred to Admirals Group USA during the merger. This entity will continue to operate following the bond's maturity terms.