Commerzbank launches issuance programme for additional tier 1 capital
BE SEMICON 88.62 TS PERP BNPPI
€1.48
18:30 28/03/24
Commerzbank Aktiengesellschaft (CZB) NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. - Programme volume of up to 3 billion euros - Bettina Orlopp: 'We are creating a framework with the AT 1 issuance programme that can be used flexibly. This will enable us to further optimise our capital structure and also respond to the additional business opportunities that have arisen for us in the context of the coronavirus crisis and the changed regulatory requirements.'
'Over recent years, we have built up a strong CET 1 position. We are creating a framework with the AT1 issuance programme that can be used flexibly. This will enable us to further optimise our capital structure and also respond to the additional business opportunities that have arisen for us in the context of the coronavirus crisis and the changed regulatory requirements,' commented Bettina Orlopp, Chief Financial Officer of Commerzbank. 'The programme will give us the opportunity to act rapidly in response to the capital requirement and the market environment.' The issuance programme also enables Commerzbank in future issuances to make use of the recent regulatory changes, whereby AT1 can now be used to a greater extent to meet the capital requirements (SREP). The basis for the issuance programme is the resolution relating to the authorisation for the Board of Managing Directors passed by the Annual General Meeting in 2019 to issue once or more than once hybrid bonds up until 21 May 2024 which meet the requirements for regulatory recognition as additional core equity. It is planned to exclude the subscription right of the shareholders from the issuances of the programme. In July 2019, Commerzbank issued its first additional tier 1 bond with a volume of 1 billion US dollars. At the end of March 2020, the common equity tier 1 ratio (CET 1 ratio) stood at 13.2 percent and therefore exceeds all regulatory requirements.
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ISIN: | DE000CBK1001 |
Category Code: | MSCU |
TIDM: | CZB |
LEI Code: | 851WYGNLUQLFZBSYGB56 |
Sequence No.: | 66032 |
EQS News ID: | 1055635 |
End of Announcement | EQS News Service |
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