Brief: Basler Kantonalbank Cancels Existing Additional Tier 1 Bond

Basler Kantonalbank

28/02/2020 06:05

Feb 28 (Reuters) - Basler Kantonalbank  BSKP.S :
    * CANCELING THE EXISTING ADDITIONAL TIER 1 BOND AND IS
PREPARING
TO REFINANCE IT
    * CANCELING THE SUBORDINATE ADDITIONAL TIER 1 BOND (AT1),
ISSUED
IN 2015 ON THE FIRST CALL DATE AND WILL BECOME EFFECTIVE ON
APRIL 1, 2020 TOGETHER WITH REPAY THE INTEREST DUE
    * BKB IS PREPARING TO TAKE UP A NEW AT1 BOND
    * TIER 1 BOND FROM 2015 CALLABLE FOR THE FIRST TIME THE
SUBORDINATE ADDITIONAL TIER 1 BOND FOR CHF 100 MILLION FROM 2015
CAN BE CANCELED AND REPAID BY THE ISSUER FOR THE FIRST TIME ON
APRIL 1, 2020
    * WILL REPAY THE BOND ON APRIL 1ST, 2020 AT FACE VALUE;
TOGETHER
WITH THE INTEREST DUE ON APRIL 1ST, 2020
    * ISSUE OF A NEW ADDITIONAL TIER 1 BOND IN PREPARATION AS A
REPLACEMENT FOR THE EXISTING BOND, THE BKB IS PREPARING TO ISSUE
A NEW ADDITIONAL TIER 1 BOND
    * NEW BOND - SIMILAR TO OTHER AT1 BONDS FROM CANTONAL BANKS
-
SHOULD HAVE A DENOMINATION OF CHF 5,000
    * IT IS PLANNED THAT THE PAYMENT DATE OF THE NEW ADDITIONAL
TIER 1
BOND WILL FALL ON THE REDEMPTION DATE OF THE OUTSTANDING BOND
    * FINMA HAS APPROVED THE TERMS OF THE NEW BOND

Source text for Eikon:  ID:nTENzbgxda 
Further company coverage:  BSKP.S 

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