KBC Groupe SA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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KBC Groupe SA's KBC Bank NV Places USD 1 Billion of Contingent Capital Notes
KBC Groupe SA announced that from 14-17 January 2013, KBC Bank NV placed 1 billion USD of tier-2 contingent capital notes which was targeted at institutional and high-net-worth investors. The issue was more than 8 times oversubscribed. The notes were offered in minimum denominations of USD 200 000 and were widely placed with institutional and high-net-worth investors in Asia and Europe. They will carry a coupon of 8% per annum and have a maturity of 10 years, with an optional call at year 5. Furthermore, the notes are subordinated and will qualify as tier 2 capital under Basel III standards (based on the CRD IV draft of July 20, 2011). They carry an expected 'BB+' rating from Standard & Poor's and will be listed on the Luxembourg stock exchange. The transaction will close and the notes will be issued on January 25, 2013. Geographical distribution was well spread across Europe and Asia. J.P. Morgan (structuring adviser), BofA Merrill Lynch, Credit Suisse, Goldman Sachs International and Morgan Stanley were mandated as Joint Bookrunners and Joint Lead Managers, and KBC Bank acted as Joint Lead Manager.
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