|
|||
2009-06-25 18:53:25 CEST 2009-06-25 18:54:25 CEST REGULATED INFORMATION Eik Banki P/F - Company AnnouncementEik Bank Danmark A/S obtains nearly DKK 300 million in subordinated debt as hybrid core capitalEik Bank Danmark A/S, the largest internetbank in Denmark, has applied for and been approved by the Danish government to obtain subordinated debt issued as hybrid core capital. The DKK 295.3 million loan will be issued on 30 June 2009. According to the agreement, DKK 27.5 million may be converted into share capital. The effective interest rate is 11.5 percent. Thereby, the Bank's solvency has been strengthened and is expected to be 16.4 percent as of 30 June. Core capital is 12.3 percent. Eik Bank Danmark A/S is the fully owned subsidiary of Eik Banki, which is listed on Nasdaq OMX Nordic Exchange. Obtaining the subordinated debt strengthens the Group solvency made up at end March 2009, by 1.8 percentage points to 11.8 percent. The loan is of infinite maturity but may be repaid by the Bank at par in the period 1 July 2012 to 30 June 2014, and at price 105 no later than 30 June 2015. Hereafter, the Bank may repay the loan at the price of 110. Facts Eik Banki is listed on Nasdaq OMX Nordic Exchange and runs banking business in Denmark and in the Faroe Islands. At the end of the first quarter, Group balance was DKK 21.9 billion and equity was DKK 1.7 billion. Eik Banki Group has 330 full time equivalent employees of which approximately 100 work in Denmark. Sincerely Marner Jacobsen Finn Danberg Group CEO Director, Group CFO |
|||
|