Nanyang Commercial Bank to redeem tier 1 securities on call date

Chicago, May 5 – Nanyang Commercial Bank, Ltd. will redeem all $1.2 billion non-cumulative subordinated additional tier 1 capital securities on their first call date, on June 2.

The securities will be redeemed at their principal amount plus distributions accrued to the first call date, according to a notice.

As of the proposed redemption date, the accrued amount of distribution is $30 million.

Nanyang Commercial is a Hong Kong-based bank.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.