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Bank of Cyprus uses first redemption date for remaining tier 1 notes
By Mary-Katherine Stinson
Lexington, Ky., Nov. 29 – Bank of Cyprus Holdings plc’s board resolved on Nov. 29 to redeem its €8.25 million remaining outstanding fixed-rate reset perpetual additional tier 1 capital securities with a first call date on Dec. 19 (ISIN: XS1865594870), according to a notice.
Most recently, the bank repurchased €7 million of the securities in July.
This followed the June refinancing and offer to purchase any and all of the €220 million tier 1 securities, in which €204,483,000, or about 93%, of the outstanding securities were tendered for purchase at 103.
The securities were originally issued in December 2018 with a coupon rate of 12˝%.
Permission for the securities’ early redemption was provided by the ECB, as the relevant competent authority, on Feb. 17, 2023.
For further information, contact investors@bankofcyprus.com.
Based in Nicosia, Cyprus, the Bank of Cyprus is a banking and financial services group.
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