November 27, 2008 | by EFG International
|
Reading time: 1 minute
November 27, 2008, Zurich. EFG International announces early redemption of EUR 100 million Subordinated Floating Rate Notes Due 2013.
EFG International, through EFG Bank Guernsey Branch as the issuer, has decided to exercise its option to redeem early EUR 100,000,000 of Subordinated Floating Rate Notes Due 2013. Formal notification has been provided to the Noteholders via the Luxembourg Stock Exchange and Clearing Systems. The Notes will be redeemed on 17 December 2008 at their principal amount together with accrued interest.
The Swiss Federal Banking Commission has given its approval, and repayment of the Notes will be made from existing internal funds.
EFG International and EFG Bank will remain well capitalised following this early redemption. As announced on 14 November 2008, EFG International’s BIS Tier 1 capital ratio is expected to be 13% by the end of December 2008.
Editor's note: Image rights belong to the respective publisher.
Conclusion of this article: « EFG International announces redemption »
Source: EFG International, Press release