REG - Bank of Cyprus Hldgs - Decision to call Tier 2 Capital Notes

Bank of Cyprus HoldingsAnnouncement

01/12/2021 07:00

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RNS Number : 1726U  Bank of Cyprus Holdings PLC  01 December 2021

 
 

Announcement
 

 

Decision to call Tier 2 Capital Notes

 

Nicosia, 1 December 2021

 

 

 

 

In January 2017, Bank of Cyprus Public Company Limited (the "Bank") issued
€250 mn Fixed Rate Reset Tier 2 Capital Notes due January 2027 (ISIN:
XS1551761569) (the "Tier 2 Notes").  As per the terms of the Tier 2 Notes,
the Bank has the option to redeem the notes at par on 19 January 2022. In
April 2021, the Bank invited the holders to tender their Tier 2 Notes for
cash. As a result of the tender offer, c.€207 mn in aggregate nominal amount
of the Tier 2 Notes were purchased and cancelled by the Bank, after which
€43 mn of Tier 2 Notes remain outstanding.

At a meeting held on 30 November 2021, the Board of Directors resolved to
exercise the Bank's option to redeem the remaining c.€43 mn nominal amount
outstanding of the Tier 2 Notes on 19 January 2022. Notice of such early
redemption will be given to holders of the Tier 2 Notes by the Bank in due
course and in accordance with Condition 6(d) of the Tier 2 Notes. Prior
permission for early redemption of the Tier 2 Notes was provided by the ECB,
as the relevant Competent Authority on 16 March 2021.

For further information, please contact Investor Relations at
investors@bankofcyprus.com (mailto:investors@bankofcyprus.com) .

 

 

 

 

 

 

 

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 90 branches in Cyprus, of
which 10 operate as cash offices. Bank of Cyprus also has representative
offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 3,558
staff worldwide. At 30 September 2021, the Group's Total Assets amounted to
€24.5 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

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