Caixa Central de Crédito Agrícola Mútuo, CRL informs about the issue of perpetual subordinated notes, eligible for Additional Tier 1 capital on an individual basis, to be subscribed exclusively by its equity holders
Caixa Central de Crédito Agrícola Mútuo, CRL (“Caixa Central”) will issue perpetual subordinated notes, eligible for Additional Tier 1 capital calculated as of March 31st 2022, to ensure compliance with regulatory minimum requirements regarding Leverage Ratio on an individual basis (3%). This issue has a maximum global amount of 100,000,000€ (one hundred million euros) and is exclusively available for subscription by the 75 Local Banks (“Caixas de Crédito Agrícola Mútuo”) that are the sole equity holders of Caixa Central and, as such, comprise Sistema Integrado de Crédito Agrícola Mútuo (“SICAM”).
The features of the aforementioned perpetual subordinated notes have been set in order to fulfil the conditions laid down in Regulation (EU) No 575/2013 of the European Parliament and of the Council for their classification as Additional Tier 1 capital instrument, the eligibility of which has been duly verified by the Supervisor.
The terms and conditions of this issuance were approved by the General Meeting held in Lisbon on March 25th 2022. This meeting was called by the Caixa Central Board of Directors, with prior consent of the General and Supervisory Board.