Cyprus Popular Bank Public Co Ltd (the “Bank”) announces the completion of the exchange and tender offer for existing €450.000.000 Callable Step-up Floating Rate Subordinated Notes (Lower Tier 2) due 2016.
The offers are part of the capital enhancement plan of the Bank, which was submitted to the Central Bank of Cyprus on January 20, 2012 and was agreed with the competent supervisory authorities.
The successful offers concern 76% of the Callable Notes. Upon the successful completion of the offers, the Bank will increase its Core Tier 1 Capital by approximately €115 million, with a corresponding positive effect on the financial results for the first six months of 2012.
We hereby attach relevant Press Release.
See attached files
Offer results of the exchange and tender offer for Subordinated Notes (Lower Tier 2)