Cash Tender Offer for 7.00% BellSouth Debentures, Corporate-Backed Trust Securities, Symbol KTBA (CUSIP No. 22080E205) at $19.00 per Certificate

Rhea-AI Summary

745 Capital LLC has initiated a cash tender offer to purchase all outstanding CorTS^SM Trust for BellSouth Debentures, 7.00% Corporate-Backed Trust Securities Certificates (OTCMKTS: KTBA). The offer, priced at $19.00 per $25.00 principal amount of Certificates, will expire on March 10, 2023, at 5:00 p.m. EST. Holders who tender their certificates before the expiration will not receive any accrued interest. Payment for accepted certificates is expected to occur around March 17, 2023. This announcement serves only as information and does not constitute an official offer to purchase.

Positive

• The cash tender offer presents liquidity for KTBA certificate holders at a price favorable to market value.
• 745 Capital LLC offers a clear timeline for the tender process, providing certainty for investors.

Negative

• Holders will not receive accrued and unpaid interest on accepted certificates, which could affect overall returns.

NEW YORK, Feb. 1, 2023 /PRNewswire/ -- 745 Capital LLC has commenced a cash tender offer for any and all outstanding Structured Products Corp. CorTS^SM Trust for BellSouth Debentures, 7.00% Corporate-Backed Trust Securities Certificates (the "Certificates") (CUSIP No. 22080E205) (OTCMKTS: KTBA) (Bloomberg: KTBA <Pfd>) as described below (the "Tender Offer"). The terms and conditions of the Tender Offer are described in the Purchaser's Offer to Purchase dated January 30, 2023 (the "Offer to Purchase") and the related Letter of Transmittal (the "Letter of Transmittal").

$19.00 Cash Tender Offer for KTBA Securities, 7.00% CorTS Trust for BellSouth Certificates

The Tender Offer will expire at 5:00p.m. EST, on March 10, 2023 unless extended or earlier terminated (the "Expiration Time"). Holders who validly tender (and who do not validly withdraw) their Certificates prior to the Expiration Time will be entitled to receive $19.00 for each $25.00 principal amount of Certificates. Holders will not receive any accrued and unpaid interest on their Certificates that are accepted for purchase in the Tender Offer.

The Tender Offer is subject to the conditions in the Offer to Purchase and the Letter of Transmittal. Provided that the conditions to the Tender Offer have been satisfied or waived, payment for the Certificates purchased in the Tender Offer will be made on or about March 17, 2023.

This press release is neither an offer to purchase nor a solicitation of an offer to sell the Certificates. 745 Capital LLC is making the offer only by the terms of the Offer to Purchase and the Letter of Transmittal, copies of which may be obtained from InvestorCom, the tender and information agent for the Tender Offer, at ktba@investor-com.com or (203) 972-9300.

About 745 Capital LLC

745 Capital LLC was incorporated in New York in 2022 and is not affiliated with the trust which issued the Certificates.

Forward-Looking Statements

This press release contains forward-looking statements, including those related to the completion of the Tender Offer. Forward-looking statements involve many risks and uncertainties that could significantly affect anticipated results in the future. The Purchaser is not under any obligation to update its forward-looking statements as a result of new information, future events or otherwise, except as required by law.

Contact: John Glenn Grau (203) 295-7841

View original content:https://www.prnewswire.com/news-releases/cash-tender-offer-for-7-00-bellsouth-debentures-corporate-backed-trust-securities-symbol-ktba-cusip-no-22080e205-at-19-00-per-certificate-301735557.html

SOURCE 745 Capital LLC

FAQ

What is the cash tender offer price for KTBA certificates?

The cash tender offer price for KTBA certificates is $19.00 per $25.00 principal amount.

When does the tender offer for KTBA expire?

The tender offer for KTBA expires on March 10, 2023, at 5:00 p.m. EST.

When will payment be made for accepted KTBA certificates?

Payment for accepted KTBA certificates will be made on or about March 17, 2023.

Will holders of KTBA certificates receive interest if they participate in the tender offer?

No, holders who validly tender their KTBA certificates will not receive any accrued and unpaid interest.