La milano richiama a 100 il perp floater XS0131749623 , adios pure a lui...
27/02/2015 08:05 - RSF
PRESS RELEASE
EARLY REDEMPTION OFPERPETUAL TRUST PREFERRED SECURITIES
Milan, 27 February 2015 - Following the resolution of its Management Board that has verified compatibility of the transaction with the financial position and results of the Bank and the market conditions, andhaving received the authorization issued by the European Central Bank, Banca Popolare di Milano ("BPM" or the "Bank") announces that it will proceed with the early redemption of the hybrid instrument "BPM Capital Trust I 8.393% NoncumulativePerpetual Trust Preferred Securities" pursuant to its terms and conditions, as indicated below.
Issuer ISIN Listing Market Aggregate Current Maturity Early
liquidation liquidation date redemption
preference preference date
(/mln) amount
outstanding*
(/mln)
BPM Capital Trust IXS0131749623 Luxembourg 160,000,000 70,717,000 Perpetual 2 April 2015
* Net of Euro 89,283,000 in aggregate liquidation preference amount of Perpetual Trust Preferred Securities held by BPM and
other group companies, of which Euro 88,866,000 in aggregate liquidation principal amount repurchased by BPM in 2009
following a tender offer.
In accordance with the Basel 3 regulations, starting from 2014 these instruments have been gradually excluded from thecalculation of Tier 1. The redemption will not have any negative impact on capital ratios and will also result in savings of the instrument's maintenance costs.
It should be noted that, as at 31 December, 2014, the Common Equity Tier 1 ratio ofthe BPM Group amounted to 11.58% and its Total Capital ratio was equal to 15.35%.
For information: Banca Popolare di Milano
Communication Press Office
Matteo Cidda MonicaProvini
+39 02.77.00.7438 +39 02.77.00.3515
[email protected] [email protected]
Investor Relations Roberto Peronaglio +39 02.77.00.2057
[email protected]