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J&T BANKA Issues Euro Fixed-Rate Perpetual Notes

17. December 2015

J&T BANKA, one of the most important private banks on the Czech market, is issuing euro fixed-rate perpetual notes following two successful Czech crown issues. The subordinate, unsecured J&T BK III 9% PERP note bears annual interest of 9%. By purchasing the note, investors provide the bank with Additional Tier 1 capital and come in terms of priority only before the bank’s shareholders. The nominal value of one such note is EUR 5,000 and under a EUR 50 million issue.

“We feel the trust that investors have in J&T BANKA by their interest in investing with us in our development. The first billion-crown issue of this innovative and remarkable instrument was bought out within a half a year. We are already two-thirds of the way through the second crown issue, which has been on offer since October.  The euro issue is aimed at foreign investors in particular, and we believe that it will be just as successful as the previous ones,” says Daniel Drahotský, Director of the Financial Markets Department of J&T BANKA.  

In terms of its parameters, the note is much like dividend stocks, and with regard to the similarity of the investment to a perpetuity, it can be a suitable part of a long-term portfolio aimed at a regular income.

The fixed-rate perpetual note is offered only to professional investors and clients with deposits and investment exceeding EUR 100 000 or its equivalent. The securities have already been accepted for trading on the Prague Stock Exchange.