UBI Banca Scpa : h. 17:40 - UBI Banca: approved redemption on maturity in cash of the convertible bond “UBI 2009/2013 convertibile con facoltà di rimborso in azioni”
05/30/2013| 12:14pm US/EasternRecommend:
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PRESS RELEASE APPROVED REDEMPTION ON MATURITY IN CASH OF THE CONVERTIBLE BOND "UBI
2009/2013 CONVERTIBILE CON FACOLTA' DI RIMBORSO IN AZIONI"
Bergamo, 30th May 2013 - UBI Banca informs that the Management and Supervisory Board meetings held on 28th and 30th May 2013 respectively, passed resolutions to proceed to redeem on maturity in cash the convertible bond "UBI 2009/2013 convertibile con facoltà di rimborso in azioni" (ISIN number IT0004506868, hereinafter the "Bond").
It is reminded that article 13 of the Bond Regulations gives the issuer UBI Banca the right to redeem the bonds in cash, or by the issue of new UBI Banca shares or in mixed form (partly in cash and partly by the issue of new UBI Banca shares).
In view of the capital strength and good liquidity position of the Group, the Bond - with maturity on 10th July 2013 and outstanding for a total nominal amount of €639,134,856.00 (with account taken of the requests of conversion of the convertible bonds into shares of UBI Banca that have taken place in the meantime) -
will be fully redeemed in cash by means of the payment of the amount of €12.75 for each convertible bond presented for redemption; that amount will be paid on 10th July 2013, together with the last annual instalment of the interest matured (annual gross coupon of 5.75%).
Nevertheless, each holder of the convertible bonds may still exercise their right of conversion into shares of
UBI Banca, in accordance with article 5 of the Bond Regulations, by 3rd July 2013 on the basis of a ratio of
1.01 shares of UBI Banca for 1 convertible bond (the conversion ratio as modified, in accordance with the Regulations, following the distribution of the dividend approved by the Shareholders' Meeting of UBI Banca held on 28th April 2012).
It remains confirmed that, where the conversion right is exercised, the convertible bonds for which the conversion rights are exercised will not be redeemed.
Finally, it is to be reminded that the Bond is recognised in the balance sheet among the liabilities as direct funding, within the item "Debt securities issued": redemption of that Bond will not therefore have any impact on capital ratios.
For further information:
UBI Banca - Investor relations - Tel. 035 3922217
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