19.12.2022 14:50:46 CET | Topdanmark A/S |
Andre oplysningsforpligtelser offentliggjort efter børsens regler
Topdanmark Forsikring A/S indfrier 800 mio. kr. kapitalbeviser (Tier 2 kapital) og udsteder 400 mio. kr. kapitalbeviser (Tier 1 kapital)
19. december 2022
Med nr. 20/2022
Topdanmark Forsikring A/S udstedte den 30. december 2020 kapitalbeviser (Tier 2 kapital) for 500 mio. kr. som ansvarlig lånekapital. Ligeledes udstedte selskabet den 16. december 2021 kapitalbeviser (Tier 2 kapital) for 1,000 mio. kr. som ansvarlig lånekapital. Efter frasalget af Topdanmark Liv Holding A/S er Topdanmark-koncernens solvenskapitalkrav reduceret betragteligt, hvorfor en stor andel af disse kapitalbeviser ikke længere kan indregnes som solvenskapital.
Som led i den vedvarende indsats for at optimere kapitalstrukturen og med baggrund i obligationsvilkårene og Topdanmark Forsikring A/S’ kapitalforhold i øvrigt har Topdanmark Forsikring A/S derfor dags dato indfriet kapitalbeviser (Tier 2 kapital) for i alt 800 mio. kr. Finanstilsynet har på forhånd godkendt indfrielsen. Indfrielsen vil ikke have en betydende effekt på Topdanmark-koncernens solvensgrad. Efter indfrielsen har Topdanmark Forsikring A/S nu udestående kapitalbeviser (Tier 2 kapital) for i alt 700 mio. kr., som udløber den 16. december 2031, men som selskabet har mulighed for at førtidsindfri til kurs 100 den 16. december 2026 under forudsætning af, at kravene i Solvens II efterleves, inklusive Finanstilsynets forudgående godkendelse.
Derudover har Topdanmark A/S, som offentliggjort i selskabsmeddelelse nr. 16/2022, indfriet kapitalbeviser (Tier 1 kapital) for 400 mio. kr. udstedt i 2017 som ansvarlig lånekapital. Som erstatning herfor vil Topdanmark Forsikring A/S den 22. december 2022 udstede kapitalbeviser (Tier 1 kapital) for samlet nominelt 400 mio. kr. Udstedelsen af 400 mio. kr. er en private placement. Udstedelsen vil påvirke Topdanmark-koncernens solvensgrad positivt ift. senest offentliggjorte kvartalsrapport.
Kapitalbeviserne udgør ansvarlig lånekapital og forrentes med 3-måneders CIBOR + 4,75% p.a. Hvis CIBOR skulle bortfalde, bliver parterne enige om en relevant substitut. Løbetiden er uendelig, men Topdanmark kan førtidsindfri lånet til kurs 100 den 22. december 2027 og på enhver rentebetalingsdag derefter under forudsætning af, at kravene i Solvens II efterleves, inklusive Finanstilsynets forudgående godkendelse.
Eventuelle henvendelser:
Lars Kufall Beck, CFO
Telefon: 44 74 30 28
Robin Løfgren, IR-direktørTelefon: 44 74 40 17Mobiltelefon: 29 62 16 91
Topdanmark Forsikring A/SCVR nr. 78416114Borupvang 42750 Ballerup
Kontakter
Robin Hjelgaard Løfgren, Head of Investor Relations, +4544744017, +4529621691, rho@topdanmark.dk
19.12.2022 14:50:46 CET | Topdanmark A/S |
Other information disclosed according to the rules of the Exchange
Topdanmark Forsikring A/S – Redemption of subordinated notes of DKK 800m (Tier 2 capital) and issue of subordinated notes of DKK 400m (Tier 1 capital)
19 December 2022
Announcement no. 20/2022
On 30 December 2020, Topdanmark Forsikring A/S issued subordinated notes of DKK 500m as subordinated loan capital (Tier 2 capital). In addition, the company issued subordinated notes of DKK 1,000m as subordinated loan capital (Tier 2 capital) on 16 December 2021. Following the divestment of Topdanmark Liv Holding A/S, the Topdanmark Group’s solvency requirement has been reduced significantly, for which reason a large amount of these subordinated notes are no longer included as solvency capital.
As part of the continuous efforts to optimise the capital structure and given the terms of the bonds and the capital position of Topdanmark Forsikring A/S, Topdanmark Forsikring A/S has redeemed subordinated notes of a total of DKK 800m (Tier 2 capital) as at today’s date. The Danish FSA has pre-approved the redemption. The redemption does not affect the Topdanmark Group’s solvency ratio significantly. Following the redemption, Topdanmark Forsikring A/S now has outstanding subordinated notes (Tier 2 capital) of a total of DKK 700m which expire 16 December 2031, but the company can redeem early at par as of 16 December 2026 subject to requirements under Solvency II including the prior approval of the Danish FSA.
As described in the company announcement no. 16/2022, Topdanmark A/S has also redeemed subordinated notes of DKK 400m (Tier 1 capital) issued in 2017 as subordinated loan capital. In substitution for this, Topdanmark Forsikring A/S will issue subordinated notes (Tier 1 capital) with a total nominal value of DKK 400m on 22 December 2022. The issue of DKK 400m is a private placement. The issue will have a positive impact on the Topdanmark Group’s solvency ratio compared with the latest published quarterly report.
The subordinated notes represent subordinated loan capital, and the interest rate on the notes is 3 months CIBOR plus 4.75% p.a. Should CIBOR cease to exist, a relevant replacement for CIBOR will be agreed by the parties. The maturity is infinite, however, Topdanmark can redeem early at par as of 22 December 2027 and any following loan interest date subject to requirements under Solvency II including the prior approval of the Danish FSA.
Please direct any queries to:
Lars Kufall Beck, CFO
Direct tel: +45 44 74 30 28
Robin Løfgren, Head of Investor RelationsDirect tel: +45 44 74 40 17Mobile: +45 29 62 16 91
Topdanmark Forsikring A/SCVR no. 78416114Borupvang 42750 Ballerup, Denmark
Contacts
Robin Hjelgaard Løfgren, Head of Investor Relations, +4544744017, +4529621691, rho@topdanmark.dk
