Vestjysk Bank A/S to repay subordinated debt (Tier 1)
The Danish Financial Supervisory Authority
Nasdaq Copenhagen A/S
30 August 2019
Vestjysk Bank A/S to repay subordinated debt (Tier 1)
The Danish FSA has approved Vestjysk Bank A/S’ early repayment of additional tier 1 capital in the amount of DKK 75 million after the Bank’s receipt of proceeds from the sale of its ownership interest in Sparinvest Holdings SE as detailed in the company announcement dated 14 August 2019.
The additional tier 1 capital was issued on 1 September 2014 with an indefinite term to maturity, with a possibility of repayment five years after the date of issue.
Repayment will take place at par value together with interest accrued but not yet paid at the date of repayment with 30 September 2019 as the value date.
Combined, this repayment and the proceeds from the sale of Vestjysk Bank’s shares in Sparinvest Holdings SE together with the conversion of tier 2 capital announced in the company announcement dated 23 August 2019 will increase the Bank’s total capital by approx. 0.7 of a percentage point and reduce annual interest payments by some DKK 10 million.
Please direct any questions regarding this announcement to the undersigned at tel. (+45) 96 63 21 04.
Vestjysk Bank A/S
Jan Ulsø Madsen
CEO
Vestjysk Bank A/S
Torvet 4-5
DK-7620 Lemvig
Denmark
Tel. (+45) 96 63 20 00
CVR no. 34631328
