Cembra decides not to call Additional Tier 1 bond
Cembra Money Bank AG / Key word(s): Bond Ad hoc announcement pursuant to Art. 53 LR Zurich, 30 August 2024 – The Swiss bank Cembra will not exercise the option for an early redemption of the outstanding Additional Tier 1 bond (ISIN: CH0485252784) as of the first call date on 15 November 2024. In accordance with the terms of the bond as set out in the prospectus dated 11 July 2019, the interest for the next five-year period will be reset five working days before the start of the respective term, based on the then applicable five-year mid-market swap rate plus a margin of 2.5%. In future, the AT1 bond can be redeemed by the issuer at its own discretion on 15 November each year, subject to a 30-day notice period and the approval of the supervisory authority. Cembra decides on redemptions individually on an economic basis, considering market conditions, the regulatory value of the instrument and its own capital planning.
About Cembra Across our business lines Lending and Payments, we serve over 2 million customers in Switzerland and employ more than 900 people from about 40 countries. We have our headquarters in Zurich and operate across Switzerland through our network of branches and our online distribution channels, as well as through our credit card partners, independent intermediaries and car dealers. We have been listed as an independent Swiss bank on the SIX Swiss Exchange since 2013. Cembra is rated A- by Standard Poor’s and is included in the MSCI ESG Leaders Index. Disclaimer regarding forward-looking statements These forward-looking statements are subject to risks, uncertainties and assumptions and other factors that could cause the Group’s actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward-looking statements. Important factors that could cause those differences include but are not limited to: changing business or other market conditions; legislative, fiscal and regulatory developments; general economic conditions in Switzerland, the European Union and elsewhere; and the Group’s ability to respond to trends in the financial services industry. Additional factors could cause actual results, performance or achievements to differ materially. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. The Group, its directors, officers and employees expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in this presentation and these materials and any change in the Bank’s expectations or any change in events, conditions or circumstances on which these forward-looking statements are based, except as required by applicable laws or regulations. This media release contains unaudited financial information. While the published numbers are rounded, they have been calculated based on effective values. All figures are derived from US GAAP financial information unless otherwise stated. This information is presented for illustrative purposes only and, because of its nature, may not give a true picture of the financial position or results of operations of the Group This media release is published in English and in German. In the event of discrepancies between the English and German versions of this media release, the English version shall prevail prevail. End of Inside Information |
Language: | English |
Company: | Cembra Money Bank AG |
20 Bändliweg | |
8048 Zürich | |
Switzerland | |
Phone: | 044 439 8111 |
Internet: | https://www.cembra.ch |
ISIN: | CH0225173167 |
Valor: | A1W65V |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1978145 |
End of Announcement | EQS News Service |
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1978145 30-Aug-2024 CET/CEST