SEB takes measures to further enhance its quality of capital
(Thomson Reuters ONE) - SEB announces two measures, the combined purpose of which is toincrease the core tier 1 ratio and to reduce the capital ratiovolatility.The first measure is to offer the holders of SEB's two USDdenominated capital contribution securities with first call dates inMarch 2014 and March 2015 respectively, to sell these at an agreedprice. The price level will be determined during the tender process,which will last for 20 days. The outstanding amount is in total USD1,100 million.The second capital action is the announced intention to issuenon-innovative EUR denominated capital contribution securities.As a consequence, SEB will record a capital gain yet to be determinedsince the price and amount of repurchased securities will not beknown until the tender process has been completed.The core tier 1 capital will increase with the capital gain. The neteffect on the tier 1 ratio will be neutral to positive and thecurrency matching of risk-weighted assets and the capital base betteraligned.At the end of June 2009, the core tier 1 ratio was 11.3 per cent andthe tier 1 ratio 13.1 per cent applying Basel II without transitionalrules.The capital action shall be seen in light of SEB's strategy to bewell-capitalised and upgrade the quality of capital.SEB is a North European financial group serving some 400,000corporate customers and institutions and five million privateindividuals. SEB offers universal banking services in Sweden, Germanyand the Baltic countries - Estonia, Latvia and Lithuania. It also haslocal presence in the other Nordic countries, Poland, Ukraine andRussia and a global presence through its international network inmajor financial centers. On 30 June 2009, the Group's total assetsamounted to SEK 2,374bn (~EUR 220bn) while its assets undermanagement totalled SEK 1,267bn (~EUR 120bn).The Group has about20,500 employees. Read more about SEB at www.sebgroup.com._____________________________________________For further information, please contact:Ulf Grunnesjö, Head of Investor Relations, +46-70 763 85 01Viveka Hirdman-Ryrberg, Head of Communications, +46 70-550 35 00http://hugin.info/1208/R/1342346/321366.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 21.09.2009 - 09:13 Uhr
Sprache: Deutsch
News-ID 6012
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 260 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"SEB takes measures to further enhance its quality of capital"
steht unter der journalistisch-redaktionellen Verantwortung von
SEB (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
