TIDM63RM
RNS Number : 0192V
OP Corporate Bank plc
09 April 2021
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR
RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS
(INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN
SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF
THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (the "United
States") OR TO ANY U.S. PERSON (AS DEFINED BELOW) OR IN OR INTO ANY
OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS
DOCUMENT.
9 April 2021
OP Corporate Bank plc
(incorporated with limited liability in the Republic of
Finland)
ANNOUNCES THE RESULTS OF THE ADJOURNED MEETINGS IN RESPECT OF
THE INSTRUMENTS
Background
On 2 March 2021, OP Corporate Bank plc (the "Issuer") announced
an invitation to holders of its EUR 60,000,000 3.75 per cent.
Instruments due 1 March 2022 (of which EUR 60,000,000 is currently
outstanding) (ISIN: XS0752059963) ("Series 131"), EUR 50,000,000
3.086 per cent. Instruments due 23 August 2027 (of which EUR
50,000,000 is currently outstanding) (ISIN: XS0819129395) ("Series
139"), EUR 30,000,000 3.068 per cent. Instruments due 21 March 2034
(of which EUR 30,000,000 is currently outstanding) (ISIN:
XS1048099367) ("Series 169"), EUR 30,000,000 3.015 per cent.
Instruments due 31 March 2034 (of which EUR 30,000,000 is currently
outstanding) (ISIN: XS1050669537) ("Series 170"), EUR 40,000,000
3.00 per cent. Instruments due 11 April 2034 (of which EUR
40,000,000 is currently outstanding) (ISIN: XS1054250748) ("Series
171") and NOK 200,000,000 3.80 per cent. Instruments due 27 May
2029 (of which NOK 200,000,000 is currently outstanding) (ISIN:
XS1069616206) ("Series 174" and together with Series 131, Series
139, Series 169, Series 170 and Series 171, the "Instruments" and
each a "Series"), to consent to the modification of the terms and
conditions of the Instruments, as proposed by the Issuer for
approval by way of an Extraordinary Resolution at a meeting of the
Holders of such Series (each a "Meeting" and together, the
"Meetings") or by way of Unanimous Consent, on the terms and
subject to the conditions set out in a consent solicitation
memorandum prepared by the Issuer dated 2 March 2021 (the "Consent
Solicitation Memorandum").
On 12 March 2021, the Issuer announced an extension of the
Consent Solicitation in relation to Series 131, Series 139, Series
169 and Series 170. In respect of Series 171 and Series 174, the
Issuer also announced on 12 March 2021 that the relevant
Extraordinary Resolutions had been approved by way of Unanimous
Consent. In accordance with the terms of the Consent Solicitation
Memorandum, the meetings scheduled to be held on 24 March 2021 in
respect of Series 171 and Series 174 were therefore immediately
cancelled.
On 24 March 2021, the Issuer announced that the Meetings held in
relation to Series 131, Series 139, Series 169 and Series 170 were
not quorate and that the Meetings would be adjourned to 9 April
2021 (the "Notice of Adjourned Meetings").
Capitalised terms used and not otherwise defined in this
announcement have the meanings given in the Consent Solicitation
Memorandum.
Series 170 - Unanimous Consent
In respect of Series 170, the relevant Extraordinary Resolution
has been approved by way of Unanimous Consent. In accordance with
the terms of the Consent Solicitation Memorandum, the adjourned
Meeting scheduled to be held on 9 April 2021 in respect of Series
170 was therefore immediately cancelled.
Series 131, Series 139 and Series 169 - Results of the Adjourned
Meetings
The Issuer hereby announces that:
(i) the Extraordinary Resolution in respect of Series 131 was
passed at the adjourned Meeting held on 9 April 2021 and as
convened by the Notice of Adjourned Meetings; and
(ii) each of the adjourned Meetings in relation to Series 139
and Series 169 held on 9 April 2021 and as convened by the Notice
of Adjourned Meetings was not quorate and, accordingly, the
relevant Extraordinary Resolutions set out in the Notice of
Adjourned Meetings were not passed.
Implementation of the Proposals
The Issuer hereby announces that the Proposals in relation to
Series 131, Series 170, Series 171 and Series 174 (together, the
"Approved Instruments") have been implemented by virtue of the
Issuer's execution today of each Amended and Restated Final Terms
in relation to the Approved Instruments. Each such Amended and
Restated Final Terms will be published on the website of the Issuer
and on the website of the London Stock Exchange plc.
Payment of Consent Fee
In relation to the Approved Instruments, the relevant Consent
Fee will be payable on or before
14 April 2021, in accordance with the provisions in the Consent
Solicitation Memorandum.
Further Information
Any questions or requests for assistance in connection with the
foregoing may be directed to OP Corporate Bank plc via email at
liabilitymanagement@op.fi .
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END
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