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Saxo Bank Issues Tier 1 Capital of EUR42.5m

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Saxo Bank, the global online trading and investment specialist, has announced that it has issued additional tier 1 capital under the CRD IV and CRR regulation. The issued amount is EUR42.5 million (approx DKK317 million).

The issuance is a perpetual with first call at 26/02-2020 and the coupon has been fixed at 9.75% until first call date, with semi-annual interest payments and an issue price of 100.00%.

The bond will be listed on the Irish Stock Exchange.

Steen Blaafalk, Group Chief Financial & Risk Officer of Saxo Bank, says: “Saxo Bank has seized an opportunity to meet forthcoming capital requirements and is better equipped to achieve our ambitious goals and strengthen our market position further”.
 
The Bank’s regulatory capital ratio will be 17.5% as of Q3 2014 pro-forma. The solvency need Q3 2014 is 12.4%.
 

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