BankNordik to issue Additional Tier 1 Capital

Company announcement

Announcement no. 25/2019

                                                                                                                                          

BankNordik to issue Additional Tier 1 Capital

Referring to company announcement no. 24 on 13 September 2019, BankNordik will issue Additional Tier 1 capital in the amount of DKK 150m, settled on 30 September 2019.

The Notes are perpetual and the coupon is fixed at 4.500%, paid annually until 30 September 2024 (first call date) based on the 5-year Danish swap rate plus the margin of 4.812%. If the Notes are not redeemed on 30 September 2024, the interest rate will be reset based on the prevailing 3-months floating CIBOR rate plus the margin of 4.812%, paid quarterly.

The issue, which is arranged by Nordea Bank Abp, is part of the ongoing efforts to optimize BankNordik’s capital structure.

Further information:

Árni Ellefsen, CEO, tel. (+298) 230 348

BankNordik has banking activities in Denmark, Greenland and the Faroe Islands and insurance activities in the Faroe Islands. Founded in the Faroe Islands more than a century ago, the Group has total assets of DKK 17.7bn and 390 employees. The Bank is subject to the supervision of the Danish Financial Supervisory Authority and is listed on Nasdaq Copenhagen.