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Pin to quick picksBk. Cyprus Hldg Regulatory News (BOCH)

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Issuance of Additional Tier 1 Capital Securities

19 Dec 2018 14:48

RNS Number : 0166L
Bank of Cyprus Holdings PLC
19 December 2018
 

 

 

 

 

Announcement

 

Issuance of Additional Tier 1 Capital Securities

 

Nicosia, 19 December 2018

 

 

 

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014.

 

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD VIOLATE THE LAWS OF THAT JURISDICTION. The distribution of this document and the offer or sale of the Capital Securities (as defined below) may be restricted by law in certain jurisdictions.

 

This announcement shall not constitute an offer to sell or a solicitation of an offer to purchase any Capital Securities in the United States, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The Capital Securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Capital Securities have only been offered and sold outside the U.S. in accordance with Regulation S under the Securities Act. No public offering of securities will be made in the United States.

 

The communication of this announcement and any other document or materials relating to the Capital Securities is not being made, and such documents and/or materials have not been approved, by an authorised person for the purposes of section 21 of the United Kingdom's Financial Services and Markets Act 2000, as amended (the "FSMA"). Accordingly, such documents and/or materials are not being addressed to, and must not be distributed or passed on to, the general public in the United Kingdom. The communication of such documents and/or materials as a financial promotion is only being made to those persons in the United Kingdom who have professional experience in matters relating to investments and who fall within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Financial Promotion Order")), or who fall within Article 49(2)(a) to (d) of the Financial Promotion Order, or who are other persons to whom it may otherwise lawfully be made under the Financial Promotion Order (all such persons together being referred to as "relevant persons"). In the United Kingdom, the Capital Securities are only available to, and any investment or investment activity to which this document relates should only be engaged in only with, relevant persons. Any person in the United Kingdom that is not a relevant person should not act or rely on this announcement or any other document or materials relating to the Capital Securities or any of their respective contents.

 

 

 

 

 

 

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 122 branches, of which 121 operate in Cyprus and 1 in Romania. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 4,163 staff worldwide. At 30 September 2018, the Group's Total Assets amounted to €22.1 bn and Total Equity was €2.3 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.

Further to its announcements dated 28 August 2018 and 14 December 2018 with respect to the issuance of €220 mn in principal amount of Additional Tier 1 Capital Securities (the "Capital Securities"), Bank of Cyprus Holdings Public Limited Company ("BOCH" and, together with its subsidiaries, the "Group") announces that the issue and settlement of the Capital Securities occurred today, 19 December 2018.

The proceeds of the issue of the Capital Securities have been on-lent by BOCH to its subsidiary, Bank of Cyprus Public Company Limited (the "Bank"), and will be used by the Bank for general corporate purposes. The on-loan is intended to qualify as Additional Tier 1 capital for the Bank under Regulation (EU) No 575/2013. The issuance is expected to strengthen the Total Capital ratio of the Group by c.140 bps1.

 

 

1Based on the latest published Group financial results for the nine months ended 30 September 2018.  

 

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.
 
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