Saxo Bank Issues Tier 1 Capital of EUR 42.5m.
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 EUR 42.5 million (approx. DKK 317 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%.
Saxo Bank udsteder kernekapital for 317 mio. kr.
Saxo Bank, der specialiserer sig i online handel og investering, udsteder hybrid kernekapital i form af Additional Tier 1 Capital i overensstemmelse med CRD 4- og CRR-regulativerne. Udstedelsen er på 42,5 mio. euro, svarende til ca. 317 mio. kr.
Obligationen er uden udløbsdato med første kald 26/02-2020 og med en fast rente på 9,75 pct. indtil første kald. Der er halvårlig rentebetaling og en udstedelseskurs på 100 pct.
Obligationsudstedelsen vil blive optaget til notering på Irish Stock Exchange.
Steen Blaafalk, direktør i Saxo Bank, siger:
”Saxo Bank har udnyttet en mulighed for at møde kommende kapitalkrav og står samtidig stærkere rustet til at opnå vores ambitiøse mål og yderligere styrke vores markedsposition.”
Bankens solvensprocent udgør herefter 17,5 pct. pr. Q3 2014 pro-forma. Kapitalkravet Q3 2014 er 12,4 pct.
At Saxo we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment solutions, Saxo’s purpose is to Get Curious People Invested in the World. We are committed to enabling our clients to make more of their money. Saxo was founded in Copenhagen, Denmark in 1992 with a clear vision: to make the global financial markets accessible for more people. In 1998, Saxo launched one of the first online trading platforms in Europe, providing professional-grade tools and easy access to global financial markets for anyone who wanted to invest.
Today, Saxo is an international award-winning investment firm for investors and traders who are serious about making more of their money. As a well-capitalised and profitable Fintech, Saxo is a fully licensed bank under the supervision of the Danish FSA, holding broker and banking licenses in multiple jurisdictions. As one of the earliest fintechs in the world, Saxo continues to invest heavily into our technology. Saxo’s clients and partners enjoy broad access to global capital markets across asset classes on our industry-leading platforms. Our open banking technology also powers more than 200 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, Saxo has more than 2,500 professionals in financial centres around the world including London, Singapore, Amsterdam, Hong Kong, Zurich, Dubai and Tokyo.
For more information, please visit: www.home.saxo