Bank of Cyprus Holdings PLC Issuance of Additional Tier 1 Capital Securities (0166L)
December 19 2018 - 8:48AM
UK Regulatory
TIDMBOCH
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 EUR22.1 bn and Total Equity
was EUR2.3 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 EUR220 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 bps(1) .
(1) Based 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.
END
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