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2011-08-08 13:00:00 CEST 2011-08-08 13:00:43 CEST REGULATED INFORMATION Pohjola Pankki Oyj - Company AnnouncementPohjola Bank plc to Redeem Lower Tier 2 Subordinated Notes of USD 325 MillionPohjola Bank plc COMPANY RELEASE Release category: Company Announcement 8 August 2011 at 2.00 pm Finnish time Pohjola Bank plc to Redeem Lower Tier 2 Subordinated Notes of USD 325 Million Pohjola Bank plc will redeem Lower Tier 2 subordinated notes of USD 325 million which it issued in September 2006. According to the terms and conditions, the notes will mature in 2016 but with the Finnish Financial Supervisory Authority's permission, the issuer has the right to call in the notes prematurely in September 2011. The notes are quoted on the London Stock Exchange. In December 2009, Pohjola Bank plc amortised USD 10 million of the notes with the Financial Supervisory Authority's permission, with the remaining amount standing at USD 315 million. Pohjola Bank plc has earlier announced an issue on 14 July 2011 of Lower Tier 2 subordinated notes of CHF 100 million. On 30 June 2011, Pohjola Group's capital adequacy ratio stood at 12.2%, Tier 1 ratio at 12.2% and capital adequacy under the Act on the Supervision of Financial and Insurance Conglomerates at 1.59. The redemption of the USD-denominated notes and the issue of the CHF-denominated notes mentioned above will decrease Pohjola Group's capital adequacy ratio (pro forma) and Tier 1 ratio by 1.2 percentage points and capital adequacy under the Act on the Supervision of Financial and Insurance Conglomerates by 0.13, in net terms. Pohjola Bank Plc Carina Geber-Teir Chief Communications Officer For more information, please contact: Vesa Aho, CFO, tel. +358 (0)10 252 2336 Hanno Hirvinen, Executive Vice President, tel. +358 (0)10 252 2221 Tarja Ollilainen, Senior Vice President, Investor Relations, tel. +358 (0)10 252 4494 DISTRIBUTION NASDAQ OMX Helsinki London Stock Exchange Swiss Exchange Major media op.fi and pohjola.fi [HUG#1536831] |
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