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Bank of Cyprus buys back 7 million more tier 1 capital securities
By Mary-Katherine Stinson
Lexington, Ky., July 3 Bank of Cyprus Holdings plc repurchased an additional 7 million of the nearly 16 million remaining outstanding fixed-rate reset perpetual additional tier 1 capital securities with a first call date on Dec. 19, 2023 (ISIN: XS1865594870), according to a notice.
The open market purchases were made as a part of the groups active management of its capital position and liabilities.
This follows 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. This left 15,517,000 outstanding after settlement on June 21.
Based in Nicosia, Cyprus, the Bank of Cyprus is a banking and financial services group.
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