Corporate | 27 August 2014 20:52
Varengold Bank AG / Key word(s): Miscellaneous
27.08.2014 20:52
Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Hamburg, August 27th, 2014 - Varengold Bank AG (WKN 547930) has
successfully issued CoCo-Bonds (contingent convertible bonds) with a total
nominal value of EUR 5 million at very attractive terms and placed them in
full by a business partner. The issued CoCo-Bonds are subordinated
debentures in a write-down / write-up variant. The resulting income is
generally considered as an additional core capital (tier-1 capital).
While European banks have discovered the issuance of such bonds for quite
some time for themselves, Varengold is one of the few German banks, which
also has implemented this.
27.08.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Varengold Bank AG
Große Elbstraße 27
22767 Hamburg
Germany
Phone: +49 (0)40 / 668649-0
Fax: +49 (0)40 / 668649-49
E-mail: info@varengold.de
Internet: www.varengold.de
ISIN: DE0005479307
WKN: 547930
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in
Open Market (Entry Standard)
End of Announcement DGAP News-Service
---------------------------------------------------------------------------