Vestjysk Bank to repay Kr 150 million of tier 2 capital due 2024

By Marisa Wong

Los Angeles, July 30 – Vestjysk Bank A/S said it has obtained permission from the Danish FSA to prepay Kr 150 million of tier 2 capital.

The tier 2 capital was issued on Sept. 1, 2014 with a 10-year maturity and a repayment option five years after the issue date.

Vestjysk will repay the securities at par plus accrued interest on Sept. 2.

The issuer said it is also exploring the possibility of issuing new tier 2 capital in the amount of Kr 125 million with a term of 10 years and an early repayment option after five years.

This issue is expected to take place in late August and will be arranged by Nykredit Bank.

The retail and corporate bank is based in Lemvig, Denmark.

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