18 May 2014
On 18 June 2010 Topdanmark Forsikring A/S issued subordinated notes of DKK 350m as subordinated loan capital.
These subordinated notes will be redeemed on 18 June 2018 at par. However, from 18 June 2015 Topdanmark Forsikring A/S may redeem early at par subject to the prior approval of the Danish Financial Supervisory Authority.
Given the terms of the bonds and the capital position of Topdanmark Forsikring A/S the Company's Board of Directors has decided to redeem early thus, after a maturity of five years, paying back the loan to the investors at par on 18 June 2015.
The Danish Financial Authority has pre-approved the redemption.
The expectation is that Topdanmark will raise a new subordinated loan, which will be discussed at the next Board meeting on 20 May 2015.
Please direct any queries to:
Steffen Heegaard, Head of IR and Group Communications
Direct tel: +45 4474 4017, Mobile: +45 4025 3524
Topdanmark Forsikring A/S
Reg.No. 78416114
Borupvang 4
2750 Ballerup