Topdanmark Forsikring A/S issues DKK 1,000m of subordinated notes (subordinated loan capital)

14.12.2021 12:10:37 CET | Topdanmark A/S | Other information disclosed according to the rules of the Exchange

14 December 2021

Announcement no. 16/2021

Topdanmark Forsikring A/S issues DKK 1,000m of subordinated notes (subordinated loan capital)

As announced in company announcement no. 11/2021, Topdanmark Forsikring A/S has redeemed subordinated notes of DKK 850m issued in 2015.

As part of its ongoing efforts to optimise the capital structure, on 16 December 2021 Topdanmark Forsikring A/S will issue subordinated notes with a total nominal value of DKK 1,000m. The issue of DKK 1,000m is a private placement subscribed by If.

The subordinated notes represent subordinated loan capital, and in the period from and including 16 December 2021 up to 16 December 2031 the interest rate on the notes is 1.25% p.a. plus 3-month CIBOR. Should CIBOR cease to exist prior to 16 December 2031, a relevant replacement for CIBOR will be agreed to between If and Topdanmark.

These subordinated notes will be due for redemption on 16 December 2031 at par. Topdanmark is entitled to redeem early at par from 16 December 2026 subject to requirements under Solvency II including the prior approval of the Danish FSA.

Please direct any queries to:

Robin Løfgren, Head of Investor Relations
Direct tel:  [phone]
Mobile: [phone]

Topdanmark Forsikring A/S
CVR no. 78416114
Borupvang 4
2750 Ballerup

Denmark

 

Contacts

• Robin Hjelgaard Løfgren, Head of Investor Relations, [phone], [phone], [e-mail]

About Topdanmark A/S

Topdanmark is one of the country's largest insurance and pension companies.

For more than 100 years, we have helped our customers care for what matters the most. Prevent and limit damages. Secure financial security before and after retirement. For the benefit of both people and the environment.

It makes us an attractive company - not only for our customers, but also for our employees, shareholders and the world around us.

Find more information about Topdanmark on topdanmark.com

© Ritzau Denmark, source Ritzau English Regulatory Releases