Last checked at 4 Nov 2009 12:01
4 November, 2009
Commercialbank announces that it is commencing a roadshow in connection with a possible US dollar issue of fixed income bonds in the international capital markets to be listed on the London Stock Exchange, such bonds to be issued by a special purpose subsidiary company of the Bank to be incorporated in Bermuda and guaranteed by the Bank. It is proposed that the bonds to be issued will be in the form of Tier II capital for the Bank, and/or senior notes. The completion of any such bond issue will be subject to market conditions.
This press release is not an offer of securities for sale in the United States, Canada, Australia, Japan or Qatar or any other jurisdiction where to do so would be unlawful. The Bank has not registered, and does not intend to register, any portion of the offering in any of these jurisdictions and does not intend to conduct a public offering of securities in any of these jurisdictions. In particular, the securities discussed herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act.
This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "relevant persons"). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
In any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive") this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.