Suche
Mein Konto
Glarner Kantonalbank decides against exercising the call option
Glarner Kantonalbank decides not to exercise the call option for Tier 1 bonds. Find out more about the background and consequences of this decision. #GlarnerKantonalbank #AT1Bond #CallOption #Financial
Glarner Kantonalbank decides against exercising the call option
Glarner Kantonalbank has decided not to exercise its call option for the outstanding 2% subordinated additional tier 1 bond (AT1 bond) with a nominal value of 100 million francs (ISIN: CH0373476511) on the first call date, May 15, 2024. Pursuant to the terms of the Bond, the Bonds will bear interest in each subsequent five-year period from (but excluding) the first call date at an annual interest rate equal to the relevant capital market rate (set at each Coupon Determination Date) plus a margin. Interest is paid annually in arrears on May 15th of each year.
Subject to a 30-day notification period and prior approval from the regulator, the AT1 bond can be redeemed by Glarner Kantonalbank at its own discretion on May 15th of each year. The decision to exercise the call right is made by Glarner Kantonalbank based on the underlying market conditions, economic aspects, the regulatory value of the instrument and its own capital planning.