Pohjola Bank plc to Issue Lower Tier 2 Subordinated Notes of EUR 500 Million
(Thomson Reuters ONE) -
Pohjola Bank plc
Company release
Release category: Stock exchange release
21 February 2012, 10.30 am
Pohjola Bank plc to Issue Lower Tier 2 Subordinated Notes of EUR 500 Million
Pohjola Bank plc will issue Lower Tier 2 subordinated notes of EUR 500 million
on or about 28 February 2012. The notes have a maturity of 10 years and Pohjola
will apply for the notes to be admitted to trading on the London Stock Exchange.
Under the terms and conditions of the notes, the issuer will have the
opportunity for early redemption in case the principal cannot be counted as part
of the bank's Tier 2 capital.
The notes will increase Pohjola Group's capital adequacy ratio (pro forma) by
3.3 percentage points, Tier 1 ratio by 1.7 percentage points and capital
adequacy under the Act on the Supervision of Financial and Insurance
Conglomerates by 0.25.
On 31 December 2011, Pohjola Group's capital adequacy ratio stood at 10.6%, Tier
1 ratio at 10.6% and capital adequacy under the Act on the Supervision of
Financial and Insurance Conglomerates at 1.41.
Carina Geber-Teir
Chief Communications Officer
FOR MORE INFORMATION, PLEASE CONTACT
Vesa Aho, CFO, tel. +358 (0)10 252 2336
Lauri Iloniemi, Head of Funding, Central Banking and Group Treasury, tel. +358
(0)10 252 3541
DISTRIBUTION
NASDAQ OMX Helsinki
LSE London Stock Exchange
SIX Swiss Exchange
Major media
op.fi and pohjola.com
Pohjola Bank plc is a Finnish financial services group which provides its
customers with banking, non-life insurance and asset management services. Our
mission is to promote the prosperity, security and wellbeing of our customers.
Profitable growth and an increase in company value form our key objectives.
Pohjola Group serves corporate customers in Finland and abroad by providing an
extensive range of financial, investment, cash-management and non-life insurance
services. We offer non-life insurance and private banking services to corporate
customers. Pohjola Series A shares have been listed on the Large Cap List of the
NASDAQ OMX Helsinki since 1989. The number of shareholders totals around
34,000. Pohjola's consolidated earnings before tax came to 258 million euros in
2011 and the balance sheet total amounted to 41 billion euros on 31 December
2011. Pohjola is part of OP-Pohjola Group, the leading financial services group
in Finland with over four million customers.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Pohjola Pankki Oyj via Thomson Reuters ONE
[HUG#1587735]
Unternehmensinformation / Kurzprofil:
Datum: 21.02.2012 - 09:31 Uhr
Sprache: Deutsch
News-ID 116530
Anzahl Zeichen: 3248
contact information:
Town:
POHJOLA
Kategorie:
Business News
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"Pohjola Bank plc to Issue Lower Tier 2 Subordinated Notes of EUR 500 Million"
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