My Money Group issues Additional Tier 1 capital

30 October 2019
My Money Group issues Additional Tier 1 capital

My Money Group issues Additional Tier 1 capital to strengthen its capital ratios, diversify its investors’ base and support the growth of its activities.
My Money Group completed its inaugural additional tier 1 issuance by raising EUR 100 million of perpetual, deeply subordinated notes at a fixed rate.
The transaction strengthen the Tier 1 capital ratio by 2.5% (was 15.7% at 30 June 2019) and supports the controlled growth of activities.

The issuance also further diversifies the investors’ base of My Money Group, after the successful completion earlier this year of its second covered bond issuance (EUR 500 million in September), and of its second public Auto ABS issuance (EUR 300 million in July).

The securities are rated ‘B’ by S&P Global Ratings and have been admitted to listing and trading on Euronext Paris.  

The key terms of the issue are as follows: perpetual, fully discretionary and non-cumulative semi-annual fixed rate coupon which is resettable on each five-year anniversary. The Issuer may, subject to the prior approval of the Relevant Regulator, redeem the Notes on 30 October 2024 and on every Interest Payment Date thereafter. 

As is the case in these types of instrument, the outstanding principal amount would be written-down if the Group’s CET1 Ratio on a consolidated basis falls below 5.125 per cent.

The prospectus related to the Notes is available on the investor reports section of My Money Group at :