mBank: Early redemption of subordinated bonds by mBank S.A. (the Bank)
mBank: Early redemption of subordinated bonds by mBank S.A. (the Bank)
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| Current Report | | |
| Drafted on: | 24 March 2014 |
| Current report No | 21/2014 |
| Abbreviated issuer&rsquo|s name | mBank |
| Legal basis | Article 56 section 1 item 2 of the Act on Public Offering - current and periodic information |
| Contents: | |
| The Management Board of mBank S.A. (The Bank), in reference to the report 92/2008 of 25 June 2008, informs that on 24 March 2014 the Bank redeemed early the subordinated bonds with the nominal value of CHF 90 million (PLN 310,032,000 according to the NBP rate of 24 March 2014). The Bank made the aforementioned redemption in connection with effective date of the Regulation of No 575/2013 of European Parliament and the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending (EU) Regulation No 648/2012, because the aforementioned bonds shall not fully included in the Tier II capital calculation, referred to in Article 71 of this Regulation. The Bank obtained the decision of Financial Supervision Authority (KNF) of 20 February 2014, under which the Authority approved the aforementioned early redemption. Simultaneously, in connection to the reports of 128/2013 of 3 December 2013 and 13/2014 of 18 February 2014, the Bank would like to remind that it issued subordinated bonds with the nominal value of PLN 500 million on 3 December 2013. The proceeds from issue were fully included in the Tier II capital calculation. As a result of exercising the option to early redemption stipulated in the Agreement, the Bank obtained 9 bonds with the nominal value of CHF 10 million (PLN 34,448,000 according to NBP rate of 24 March 2014. The Bank obtained the bond in order to redeem it. The bond redemption took place on 24 March 2014. The average price of bonds redemption together with interest amounted to CHF 10,100,525 (PLN 34,794,288.52 according to NBP rate of 24 March 2014) each. The interest rate on bonds is 3 month CHF LIBOR +4.00%. The total price of redemption together with interest amounted to CHF 90,904,725.00 (PLN 313,148,596.68 according to NBP rate of 24 March 2014). |
SIGNATURES OF THE PERSONS REPRESENTING THE COMPANY
| Director of the Compliance Department | Agata Rowińska 24 March 2014 | |
Information on the entity:
| Abbreviated issuer&rsquo|s name: | mBank |
| Full issuer&rsquo|s name: | mBank SA |
| Sector according to Warsaw Stock Exchange (WSE) classification: | Banks (ban) |
| Address: | SENATORSKA 18, 00-950 WARSZAWA |
| Phone No: | 829-00-00 |
| Fax: | 829-00-33 |
| e-mail: | | |
| WWW | www.mbank.pl |
| NIP (Tax identification number): | 526-021-50-88 |
| Statistical identification number (REGON): | 001254524 |