BankNordik P/F
BankNordik continues to repay state funded Hybrid Core Capital

BankNordik P/F 

10.09.2013 15:50

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In accordance with the announced capital plan BankNordik repays another DKK 41m
in state funded Hybrid Core Capital. 

BankNordik hereby announces that the Group repays another DKK 41.000.000 of the
original outstanding amount of DKK 204m. This is in accordance with the
announced capital plan, where the Group aims to repay the full amount due to
the Danish state in 2014 at the latest. The residual outstanding amount after
the above mentioned repayment is DKK 63m. 

On September 21, 2009 BankNordik concluded an agreement with the Danish State
regarding State-funded Capital Injection of Hybrid core capital. According to
the agreement the Danish State subscribed for 20.413.815.000 notes of DKK 0.01
each issued by BankNordik, corresponding to a total loan of DKK 204.138.150.
The ISIN code is DK0030185392. 

BankNordik has obtained approval from the Danish Financial Supervisory
Authority (Finanstilsynet) to repayment of up to DKK 150.000.000 of the above
mentioned State-funded Hybrid core Capital. 

Based on the above mentioned approval, BankNordik with disposition date on
August 6th 2013 repaid State-funded Hybrid core capital amounting to a nominal
value of DKK 100.000.000. 

BankNordik has decided to repay additional State-funded Hybrid core capital
amounting to a nominal value of DKK 41.000.000. 

The repayment will be carried out with transaction date on Thursday September
26st 2013 and disposition date on September 27th 2013. The repayment will be
done with a view to annulment of the corresponding notes. 

 'It is very satisfactory to announce, that BankNordik is progressing according
to plan with regards to becoming independent from the state funded capital'
says Janus Petersen, CEO of BankNordik. 'This optimisation of our capital
structure is furthermore a natural consequence of our profitable first half
year.' 



Further information:

For further information please contact the Bank's CEO, Janus Petersen, phone:
+298 330 340.
News Source: NASDAQ OMX



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Language:     English
Company:      BankNordik P/F
              
               
              Faeroe Islands
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         FO0000000088
WKN:          
 
End of Announcement                             DGAP News-Service
 
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