Last checked at 3 Jul 2023 11:48
Announcement
Buyback of Additional Tier 1 Capital Securities
Nicosia, 3 July 2023
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. At 31 March 2023, the Bank of Cyprus Group operated through a total of 64 branches in Cyprus, of which 4 operated as cash offices. The Bank of Cyprus Group employed 2,883 staff worldwide. At 31 March 2023, the Group's Total Assets amounted to €25.4 bn and Total Equity was €2.1 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.
Following the June 2023 refinancing and offer by Bank of Cyprus Holdings Public Limited Company (the "Offeror") to purchase any and all of its €220 mn Fixed Rate Reset Perpetual Additional Tier 1 Capital Securities callable in December 2023 (ISIN: XS1865594870) (the "Capital Securities'"), c.€16 mn in aggregate nominal amount of the Capital Securities remained outstanding.
Bank of Cyprus Holdings Public Limited Company ("BOC Holdings" and, together with its subsidiary, the Bank, and the Bank's subsidiaries, the "Group") hereby announces that the Offeror has purchased a further c.€7 mn of the Capital Securities in the open market, as part of the Group's ongoing active management of its capital position and liabilities.
For further information, please contact Investor Relations at investors@bankofcyprus.com.