Bank of Cyprus uses first redemption date for remaining tier 1 notes

By Mary-Katherine Stinson

Lexington, Ky., Nov. 29 – Bank of Cyprus Holdings plc’s board resolved on Nov. 29 to redeem its €8.25 million remaining outstanding fixed-rate reset perpetual additional tier 1 capital securities with a first call date on Dec. 19 (ISIN: XS1865594870), according to a notice.

Most recently, the bank repurchased €7 million of the securities in July.

This followed the June refinancing and offer to purchase any and all of the €220 million tier 1 securities, in which €204,483,000, or about 93%, of the outstanding securities were tendered for purchase at 103.

The securities were originally issued in December 2018 with a coupon rate of 12˝%.

Permission for the securities’ early redemption was provided by the ECB, as the relevant competent authority, on Feb. 17, 2023.

For further information, contact investors@bankofcyprus.com.

Based in Nicosia, Cyprus, the Bank of Cyprus is a banking and financial services group.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.