Bank of Ireland(Governor&Co) Potential Additional Tier 1 Transaction (4967P)
June 08 2015 - 5:45AM
UK Regulatory
TIDMBKIR
RNS Number : 4967P
Bank of Ireland(Governor&Co)
08 June 2015
The Governor and Company of the Bank of Ireland (the
"Group")
Potential Additional Tier 1 Transaction
8 June 2015
_______________________________________________________________________________
The Governor and Company of the Bank of Ireland ("the Bank") has
mandated Deutsche Bank and UBS Investment Bank as Joint Structuring
Advisors and Joint Bookrunners and Bank of America Merrill Lynch,
Credit Suisse, Davy and Morgan Stanley as Joint Bookrunners for the
issue of EUR-denominated RegS CRR compliant 5.125% CET1 trigger
Fixed Rate Reset Additional Tier 1 Perpetual Contingent Temporary
Write-Down Securities (the "Securities"). The issue and sale of the
Securities remains subject to market conditions and will follow a
UK and European roadshow which will commence on 9 June 2015.
FCA/ICMA stabilisation.
Ends
For further information please contact:
Bank of Ireland
Andrew Keating Group Chief Financial Officer +353 (0)766 23
5141
Brian Kealy Head of Capital Management +353 (0)766 23 4719
Colin Reddy Deputy Head of Capital Management +353 (0)766 23
4722
Mark Spain Director of Group Investor Relations +353 (0)766 23
4850
Pat Farrell Head of Group Communications +353 (0)766 23 4770
Forward Looking Statement
This document contains certain forward-looking statements within
the meaning of Section 21E of the US Securities Exchange Act of
1934 and Section 27A of the US Securities Act of 1933 with respect
to certain of the Bank of Ireland Group's (the 'Group') plans and
its current goals and expectations relating to its future financial
condition and performance, the markets in which it operates, and
its future capital requirements. These forward-looking statements
often can be identified by the fact that they do not relate only to
historical or current facts. Generally, but not always, words such
as 'may,' 'could,' 'should,' 'will,' 'expect,' 'intend,'
'estimate,' 'anticipate,' 'assume,' 'believe,' 'plan,' 'seek,'
'continue,' 'target,' 'goal', 'would,' or their negative variations
or similar expressions identify forward-looking statements, but
their absence does not mean that a statement is not forward
looking. Examples of forward-looking statements include among
others, statements regarding the Group's near term and longer term
future capital requirements and ratios, level of ownership by the
Irish Government, loan to deposit ratios, expected impairment
charges, the level of the Group's assets, the Group's financial
position, future income, business strategy, projected costs,
margins, future payment of dividends, the implementation of changes
in respect of certain of the Group's pension schemes, estimates of
capital expenditures, discussions with Irish, United Kingdom,
European and other regulators and plans and objectives for future
operations.
Such forward-looking statements are inherently subject to risks
and uncertainties, and hence actual results may differ materially
from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, but are not limited to, the
following: geopolitical risks, such as those associated with crises
in the Middle East and increasing political tensions in respect of
the Ukraine, which could potentially adversely impact the markets
in which the Group operates; concerns on sovereign debt and
financial uncertainties in the EU and in member countries such as
Greece and the potential effects of those uncertainties on the
Group; general and sector specific economic conditions in Ireland,
the United Kingdom and the other markets in which the Group
operates; the ability of the Group to generate additional liquidity
and capital as required; the effects of extensive asset quality
review and stress tests conducted by the European Central Bank any
capital or other assessments undertaken by regulators; property
market conditions in Ireland and the United Kingdom; the potential
exposure of the Group to various types of market risks, such as
interest rate risk, foreign exchange rate risk, credit risk and
commodity price risk; deterioration in the credit quality of the
Group's borrowers and counterparties, as well as increased
difficulties in relation to the recoverability of loans and other
amounts due from such borrowers and counterparties, have resulted
in significant increases, and could result in further significant
increases in the Group's impaired loans and impairment provisions;
the impact on lending and other activity arising from emerging
macro prudential policies; the performance and volatility of
international capital markets; the effects of the Irish
Government's stockholding in the Group (through the Ireland
Strategic Investment Fund) and possible changes in the level of
such stockholding; the impact of downgrades in the Group's or the
Irish Government's credit ratings or outlook; the stability of the
eurozone; changes in the Irish and United Kingdom banking systems;
changes in applicable laws, regulations and taxes in jurisdictions
in which the Group operates particularly banking regulation by the
Irish and United Kingdom Governments together with the operation of
the Single Supervisory Mechanism and the establishment of the
Single Resolution Mechanism the exercise by regulators of powers of
regulation and oversight in Ireland and the United Kingdom; the
introduction of new government policies or the amendment of
existing policies in Ireland or the United Kingdom; the outcome of
any legal claims brought against the Group by third parties or
legal or regulatory proceedings or any Irish banking inquiry more
generally, that may have implications for the Group; the
development and implementation of the Group's strategy, including
the Group's ability to achieve net interest margin increases and
cost targets; the Group's ability to address weaknesses or failures
in its internal processes and procedures including information
technology issues and equipment failures and other operational
risks; the responsibility of the Group for contributing to
compensation schemes in respect of banks and other authorised
financial services firms in Ireland and the United Kingdom who may
be unable to meet their obligations to customers; the inherent risk
within the Group's life assurance business involving claims, as
well as market conditions generally; potential further
contributions to the Group sponsored pension schemes if the value
of pension fund assets is not sufficient to cover potential
obligations and the impact of the continuing implementation of
significant regulatory developments such as Basel III, Capital
Requirements Directive (CRD) IV, Solvency II and the Recovery and
Resolution Directive.
Nothing in this document should be considered to be a forecast
of future profitability or financial position and none of the
information in this document is or is intended to be a profit
forecast or profit estimate. Any forward-looking statement speaks
only as at the date it is made. The Group does not undertake to
release publicly any revision to these forward-looking statements
to reflect events, circumstances or unanticipated events occurring
after the date hereof. The reader should however, consult any
additional disclosures that the Group has made or may make in
documents filed or submitted or may file or submit to the US
Securities and Exchange Commission.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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