At the meeting held on 11.07.2019, the Board of Directors of the Macedonian Stock Exchange reached a Decision for listing of convertible bonds issued by Centralna kooperativna banka AD Skopje, on the sub-segment Exchange Listing - Bonds.
The characteristics of this financial instrument are as follows:
- Securities type: convertible, transferable, subordinated, unsecured, bonds, with fixed interest rate. The issued capital instrument will be used as additional capital of the Bank (Tier 2 capital)
Number of issued bonds: 5,000
Nominal value of one bonds: 1,000 EUR
Total nominal value of the issue: EUR 5 million
- Issue date: 22.03.2019
- Maturity date: 22.03.2026
- Interest rate: 2,2% fixed annual for the total period. Interest is paid annually, on March 22nd, starting from March 22nd 2020. Interest is calculated in euros, and it is paid in denars.
- Legal position (subordination) of the bonds: The bonds are unsecured and subordinated liabilities in respect to all debtors of the Bank, such as: the claims of depositors and creditors. The bonds are equal to each other and in relation to other instruments of the Issuer with same type and characteristic.
- Purchase option / redemption: The issuer may redeem securities after the expiration of 5 years from the date of issue, with prior approval from the National Bank.
- Convertibility option): The bond holder has a right to convert part or all securities into ordinary shares with voting rights issued by the Bank at price of 41,2069 euros. The residue value that will not be converted into ordinary shares will be paid in cash.
- Trading Code: CKBKO
- ISIN: MKSILB200014
- Listing date and first trading day: 19.07.2019
- Trading Mode: Auction Trading, Third Group
Having in mind the aforementioned, as with every investment in securities, it is necessary for investors to be thoroughly informed about the characteristics of the financial instrument by inspecting and analyzing the listing prospect, as well as by reading the announcements that the Issuer will publish in future through the Electronic reporting system for listed companies, SEI-Net.