Bank of The Ryukyus,Limited (8399) · InitiativeAchieved
Reducing funding costs through the early redemption of subordinated bonds
First written in FY2019-Q2. 1 of 2 entries say "Achieved", first in FY2019. Latest entry: FY2019.
2entries
2years
0from disclosures
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Repayment and Early Redemption of Subordinated Borrowings and BondsA theme 2 companies write about · 0 as a headwind · 2 as a tailwind
0 other companies' latest entry also says "Achieved".
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- FY2019AchievedAnnual report
「Bonds with a subordinated covenant ¥12,000 million —」
The Third Series unsecured bonds with an early redemption provision and a subordinated covenant declined from ¥12.0 billion at the beginning of the period to zero at period-end, and the full redemption was reflected in the financial statements. - FY2019-Q2First statedAnnual report
「The Bank fully redeemed on 30 October 2018 the Third Series unsecured bonds with an early redemption provision and a subordinated covenant, which it issued on 30 October 2013.」
The Bank fully redeemed the ¥12.0 billion principal amount of subordinated bonds on 30 October 2018 using its own funds, and stated that annual interest expense was expected to decrease by ¥225 million.