PR PR
Public Relations, Saxo Bank
15 April 2015

Saxo Bank strengthens its capital base with EUR 77.5 million

Saxo Bank, the global online trading and investment specialist, has announced that it has strengthened its capital base by issuing Convertible Tier 2 Notes in exchange for EUR 46.25 million and by issuing new equity capital in the amount of EUR 31.25 million.
​​​​​​CarVal Investors, a leading global investment fund manager with more than USD 10 billion under management, became note owners when investing in the Convertible Tier 2 and minority shareholders when subscribing shares equal to 2.5% of the share capital before this issue.

 
In a joint statement, Kim Fournais and Lars Seier Christensen, co-CEOs and co-founders of Saxo Bank said:

 
“In the process of exploring opportunities in the market, we found a combination which allows us to both issue additional capital and raise equity capital which will benefit the Bank, the shareholders, investors and clients. This framework enables Saxo Bank to not only meet potential future capital requirements, but also to consolidate our market position as a solid industry player. The investment is testament to the trust in the bank’s ability to capitalise on significant growth opportunities. We welcome CarVal Investors as new shareholders and note owners.”
 
The Tier 2 instrument fulfils the new European capital regulations and is subject to conversion into ordinary shares if the common equity tier 1 ratio in the Saxo Bank Group and/or Saxo Bank A/S falls below 7 per cent.
 
Following the issues then Saxo Bank A/S and Saxo Bank Group’s regulatory capital ratio are 22.8% and 19.0% respectively while the estimated solvency need is 13.8% and 12.8% respectively.​​​​​​​

International media enquiries

Kasper Elbjørn, Head of International Communications

+45 3065 4300

press@saxobank.com

Nordic media enquiries

Cathrine Kier, Head of Nordic Communications

+45 2068 4510

ck@saxobank.com

About CarVal Investors

CarVal Investors is a global alternative investment fund manager focused on opportunities in corporate securities, loan portfolios and real estate. Since 1987, CarVal's team has invested more than $81 billion in 5,300 transactions across 71 countries. Today, CarVal Investors has over $10 billion in assets under management in both credit and real estate strategies.

About Saxo Bank

Saxo Bank Group (Saxo) is a leading multi-asset trading and investment specialist, offering a complete set of investment and trading technologies, tools and strategies.

For almost 25 years, Saxo's mission has been to enable individuals and institutions by facilitating their access to professional investing and trading through technology and expertise.

As a fully licensed and regulated bank, Saxo enables its private clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology.

Saxo’s award winning trading technology platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.

Founded in 1992 and headquartered in Copenhagen, Saxo employs more than 1500 people in financial centres around the world including London, Singapore, Paris, Zurich, Dubai and Tokyo.