Jyske Bank buys back €50 million of its hybrid core capital

By Tali David

Minneapolis, Dec. 2 - Jyske Bank has repurchased €50 million of its hybrid core capital, according to a filing with the London Stock Exchange.

The company repurchased the securities at 55 and said it will raise the pre-tax profit by Kr. 155 million in the fourth quarter of this year.

On Nov. 18 Jyske said it received authorization from Finanstilsynet (the Danish FSA) to repurchase up to €50 million of two series of capital notes. Specifically, the company will buy back some of its €100 million perpetual CMS variable-rate capital notes and €125 million perpetual CMS variable-rate capital notes.

Jyske is a Silkeborg, Denmark-based commercial bank.

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