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KBC Ancora SA — Capital/Financing Update 2020
Oct 16, 2020
3969_iss_2020-10-16_065bf711-d565-4f5a-806a-aea3843103ed.pdf
Capital/Financing Update
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Press release Regulated Information 16 October 2020 (17.40 CEST) Insider Information
Regulated Information, Inside information, Leuven, 16 October 2020 (17.40 CEST)
KBC Ancora reduces interest charges by 0.6 million euro on an annual basis
On an existing loan of 100 million euro, which runs until May 2027, KBC Ancora has reduced its interest charges by 0.6 million euro on an annual basis. Over the total term of this loan, the reduction in interest charges amounts to 4.2 million euro. In this context 10 million additional KBC Group shares have been pledged.
KBC Ancora's financial debt amounts to 343 million euros and has repayment dates in May 2020 (100 million euro), in May 2024 (143 million euro) and in May 2027 (100 million euro). A pledge was granted on a total of 25,7 million KBC Group shares.
The interest rate for the existing (bullet) loan of 100 million euro, which runs until May 2027, has been revised downwards with effect as of the end of May 2020. This transaction will reduce KBC Ancora's interest charges by 0.65 million euros for the current financial year. In subsequent years, the reduction in the interest charges amounts to 0.6 million euro on an annual basis. Over the total term of this loan, the reduction in interest charges amounts to 4.2 million euros.
In the context of this interest rate revision, 10 million additional KBC Group shares were pledged. This brings the total number of pledged KBC Group shares to 35.7 million. KBC Ancora holds a total of 77.5 million KBC Group shares.
KBC Ancora is a listed company which holds 18,6% of the shares in KBC Group and which together with Cera, MRBB and the Other Permanent Shareholders is responsible for the shareholder stability and further development of the KBC Group. As core shareholders of KBC Group, these parties have signed a shareholder agreement to this effect.
Financial Calendar:
| 30 October 2020 | Ordinary and Extraordinary General Meeting of Shareholders |
|---|---|
| 29 January 2021 | Interim financial report (1H) |
| 27 August 2021 | Annual press release for the financial year 2020/2021 |
This press release is available in Dutch, French and English on the website www.kbcancora.be.
KBC Ancora Investor Relations & Press contact: Jan Bergmans tel.: +32 (0)16 27 96 72 e-mail: [email protected] of [email protected]