Bank of Cyprus Holdings PLC Issue of Debt (1498C)
2021年6月17日 - 12:23AM
RNSを含む英国規制内ニュース (英語)
TIDMBOCH
RNS Number : 1498C
Bank of Cyprus Holdings PLC
16 June 2021
Announ cement
Issue of Senior Preferred Notes
Nicosia, 16 June 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014.
Group Profile
The Bank of Cyprus Group is the leading banking and financial
services group in Cyprus, providing a wide range of financial
products and services which include retail and commercial banking,
finance, factoring, investment banking, brokerage, fund management,
private banking, life and general insurance. The Bank of Cyprus
Group operates through a total of 91 branches in Cyprus, of which
11 operate as cash offices. Bank of Cyprus also has representative
offices in Russia, Ukraine and China. The Bank of Cyprus Group
employs 3,557 staff worldwide. At 31 March 2021, the Group's Total
Assets amounted to EUR23.0 bn and Total Equity was EUR2.1 bn. The
Bank of Cyprus Group comprises Bank of Cyprus Holdings Public
Limited Company, its subsidiary Bank of Cyprus Public Company
Limited and its subsidiaries.
Bank of Cyprus Holdings Public Limited Company (the "Company" or
"BOC Holdings" and, together with its subsidiary, Bank of Cyprus
Public Company Limited (the "Bank"), and the Bank's subsidiaries,
the "Group") announces today that the Bank has successfully
launched and priced an issuance of EUR300 mn of senior preferred
notes (the "Notes") under its EMTN Programme.
The Notes were priced at par with a fixed coupon of 2.50% per
annum, payable annually in arrear and resettable on 24 June 2026.
The maturity date of the Notes is 24 June 2027 and the Bank may, at
its discretion, redeem the Notes on 24 June 2026, subject to
meeting certain conditions as specified in the Terms and
Conditions, including applicable regulatory consents.
The issuance was met with strong demand, attracting interest
from c.65 institutional investors , with the final order book more
than two times subscribed and final pricing 25 basis points tighter
than the initial pricing indication. The transaction follows the
successful issuance of subordinated Tier 2 Capital Notes in April
2021 by BOC Holdings.
It is expected that settlement will occur on 24 June 2021. The
Notes will be listed on the Luxembourg Stock Exchange's Euro MTF
market.
The Notes are expected to comply with the criteria for the
minimum requirement for own funds and eligible liabilities (MREL)
and to contribute towards the Bank's MREL requirements. This
transaction improves the Bank's MREL ratio to 18.37%(1) of risk
weighted assets (RWA) and to 10.62%(1) of Leverage Ratio Exposure
(LRE), in each case comfortably above the interim requirements of
14.94% of RWA and 5.91% of LRE which the Bank must meet by 1
January 2022.
The success of the transaction, in terms of investor
participation and final pricing, reflect market recognition of the
significant progress made by the Group in improving its financial
profile, as well as confidence in the Cypriot economy. This
transaction represents the Group's inaugural issuance of
MREL-compliant senior notes, establishing a blueprint for future
issuances.
BofA Securities, Citigroup, HSBC and Nomura acted as Joint Lead
Managers. Stifel Nicolaus Europe Limited and the Bank acted as
Co-Managers.
Sidley Austin LLP acted as English legal advisors and
Chryssafinis & Polyviou LLC acted as Cypriot legal advisors to
the Bank in this transaction.
For further information, please contact Investor Relations at
investors@bankofcyprus.com .
(1) ased on the Group financial results for the quarter ended 31
March 2021 pro forma for Helix 2 and pro forma for the issuance of
EUR300 mn Tier 2 Capital Notes in April 2021 and c alculated
according to the SRB's eligibility criteria currently in effect and
based on the Bank's internal estimate. The Bank's MREL ratio is
expected to increase to 18.76% of risk weighted assets (RWA), when
including 39 basis points relating to the outstanding Tier 2
Capital Notes of EUR43 mn remaining after the Tender Offer of April
2021, which are redeemable at the option of the Bank (subject to
applicable regulatory consents) in January 2022.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IODSFSFIMEFSEEM
(END) Dow Jones Newswires
June 16, 2021 11:23 ET (15:23 GMT)
Bank Of Cyprus Holdings ... (LSE:BOCH)
過去 株価チャート
から 6 2024 まで 7 2024
Bank Of Cyprus Holdings ... (LSE:BOCH)
過去 株価チャート
から 7 2023 まで 7 2024