KBC to repurchase certain outstanding hybrid Tier-1 securities via
cash tender offer
(Thomson Reuters ONE) - Regulated information* - 14 September 2009 (08.30 a.m. CEST)NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA OR ITALYKBC Bank has today launched tender offers in certain countries inEurope and, in respect of one security, in the United States ofAmerica to repurchase four series of outstanding hybrid Tier-1securities with a total nominal value of approximately ?1.6 billion.The securities will be purchased at 70% of their face value.By doing so under current market conditions, KBC Bank offersbondholders an opportunity to exit by paying a premium above themarket price. At the same time, KBC Bank will generate a value gainwhen buying back at a discounted price compared to the nominal valueof the securities, which further enhances the quality of its corecapital position. If all outstanding securities would be bought back,the after tax value gain would be approx. 0.2 billion euros while theimpact on the core Tier-1 ratio, banking would be estimated at+0.25%.In the past, KBC has issued several hybrid securities that werequalified as regulatory Tier-1 bank capital. Such securities are'hybrid' securities that have both equity and debt features. Ingeneral terms, they pay an interest coupon, but have no finalmaturity and rank junior to other bonds upon bankruptcy.KBC wishes to reiterate its stance of refraining from exercising itscall options on hybrid Tier-1 securities for the remainder of theyear.The tender offers cover the following securities and are being madesolely to the relevant holders of such securities:* EUR 280 million hybrid securities issued by KBC Bank Funding Trust II;* USD 600 million hybrid securities issued by KBC Bank Funding Trust III;* EUR 300 million hybrid securities issued by KBC Bank Funding Trust IV;* GBP 525 million hybrid securities issued by KBC Bank.For further information regarding the tender offers, please contact:* For press: KBC Press Office, Tel. +32 2 429 8545, pressofficekbc(at)kbc.be* For analysts: KBC Investor Relations Office, Tel. +32 2 429 4051, investor.relations(at)kbc.com* For detailed terms and conditions of the transaction (bondholders only): KBC Issue desk, Tel. +32 2 417 35 53, E-mail: dirk.vandamme(at)kbc.beDISCLAIMERThe offers for the euro- and GBP-denominated securities are not beingmade, and will not be made, directly or indirectly in or into, or byuse of the mail of, or by any means or instrumentality of interstateor foreign commerce of or of any facilities of a national securitiesexchange of, the United States, and no offer for such securities maybe made by any such use, means, instrumentality or facility from orwithin the United States or to persons located in the United States.This includes, but is not limited to, facsimile transmission,electronic mail, telex, telephone and the internet. Accordingly,copies of the tender offer memoranda and any other documents ormaterials relating to these offers are not being, and must not be,directly or indirectly mailed or otherwise transmitted, distributedor forwarded (including, without limitation, by custodians, nomineesor trustees) in or into the United States or to persons located inthe United States. Any purported tender of euro- or GBP-denominatedsecurities in an offer resulting directly or indirectly from aviolation of these restrictions will be invalid and any purportedtender of such securities made by a person giving instructions fromwithin the United States or any agent, fiduciary or otherintermediary acting on a non discretionary basis for a principalgiving instructions from within the United States will be invalid andwill not be accepted.Each holder participating in an offer for the euro- andGBP-denominated securites will represent that it is not located inthe United States and is not participating in such offer from theUnited States or it is acting on a non-discretionary basis for aprincipal located outside the United States that is not giving anorder to participate in such offer from the United States. For thepurposes of this and the above paragraph, "United States" meansUnited States of America, its territories and possessions, any stateof the United States of America and the District of Columbia.* This news item contains information that is subject to thetransparency regulations for listed companies.http://hugin.info/133947/R/1340242/320605.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 14.09.2009 - 08:31 Uhr
Sprache: Deutsch
News-ID 5760
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