OP Corporate Bank plc The Results of the Adjourned Meetings (0192V)

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RNS Number : 0192V

OP Corporate Bank plc

09 April 2021

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (the "United States") OR TO ANY U.S. PERSON (AS DEFINED BELOW) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT.

9 April 2021

OP Corporate Bank plc

(incorporated with limited liability in the Republic of Finland)

ANNOUNCES THE RESULTS OF THE ADJOURNED MEETINGS IN RESPECT OF THE INSTRUMENTS

Background

On 2 March 2021, OP Corporate Bank plc (the "Issuer") announced an invitation to holders of its EUR 60,000,000 3.75 per cent. Instruments due 1 March 2022 (of which EUR 60,000,000 is currently outstanding) (ISIN: XS0752059963) ("Series 131"), EUR 50,000,000 3.086 per cent. Instruments due 23 August 2027 (of which EUR 50,000,000 is currently outstanding) (ISIN: XS0819129395) ("Series 139"), EUR 30,000,000 3.068 per cent. Instruments due 21 March 2034 (of which EUR 30,000,000 is currently outstanding) (ISIN: XS1048099367) ("Series 169"), EUR 30,000,000 3.015 per cent. Instruments due 31 March 2034 (of which EUR 30,000,000 is currently outstanding) (ISIN: XS1050669537) ("Series 170"), EUR 40,000,000 3.00 per cent. Instruments due 11 April 2034 (of which EUR 40,000,000 is currently outstanding) (ISIN: XS1054250748) ("Series 171") and NOK 200,000,000 3.80 per cent. Instruments due 27 May 2029 (of which NOK 200,000,000 is currently outstanding) (ISIN: XS1069616206) ("Series 174" and together with Series 131, Series 139, Series 169, Series 170 and Series 171, the "Instruments" and each a "Series"), to consent to the modification of the terms and conditions of the Instruments, as proposed by the Issuer for approval by way of an Extraordinary Resolution at a meeting of the Holders of such Series (each a "Meeting" and together, the "Meetings") or by way of Unanimous Consent, on the terms and subject to the conditions set out in a consent solicitation memorandum prepared by the Issuer dated 2 March 2021 (the "Consent Solicitation Memorandum").

On 12 March 2021, the Issuer announced an extension of the Consent Solicitation in relation to Series 131, Series 139, Series 169 and Series 170. In respect of Series 171 and Series 174, the Issuer also announced on 12 March 2021 that the relevant Extraordinary Resolutions had been approved by way of Unanimous Consent. In accordance with the terms of the Consent Solicitation Memorandum, the meetings scheduled to be held on 24 March 2021 in respect of Series 171 and Series 174 were therefore immediately cancelled.

On 24 March 2021, the Issuer announced that the Meetings held in relation to Series 131, Series 139, Series 169 and Series 170 were not quorate and that the Meetings would be adjourned to 9 April 2021 (the "Notice of Adjourned Meetings").

Capitalised terms used and not otherwise defined in this announcement have the meanings given in the Consent Solicitation Memorandum.

Series 170 - Unanimous Consent

In respect of Series 170, the relevant Extraordinary Resolution has been approved by way of Unanimous Consent. In accordance with the terms of the Consent Solicitation Memorandum, the adjourned Meeting scheduled to be held on 9 April 2021 in respect of Series 170 was therefore immediately cancelled.

Series 131, Series 139 and Series 169 - Results of the Adjourned Meetings

The Issuer hereby announces that:

(i) the Extraordinary Resolution in respect of Series 131 was passed at the adjourned Meeting held on 9 April 2021 and as convened by the Notice of Adjourned Meetings; and

(ii) each of the adjourned Meetings in relation to Series 139 and Series 169 held on 9 April 2021 and as convened by the Notice of Adjourned Meetings was not quorate and, accordingly, the relevant Extraordinary Resolutions set out in the Notice of Adjourned Meetings were not passed.

Implementation of the Proposals

The Issuer hereby announces that the Proposals in relation to Series 131, Series 170, Series 171 and Series 174 (together, the "Approved Instruments") have been implemented by virtue of the Issuer's execution today of each Amended and Restated Final Terms in relation to the Approved Instruments. Each such Amended and Restated Final Terms will be published on the website of the Issuer and on the website of the London Stock Exchange plc.

Payment of Consent Fee

In relation to the Approved Instruments, the relevant Consent Fee will be payable on or before

14 April 2021, in accordance with the provisions in the Consent Solicitation Memorandum.

Further Information

Any questions or requests for assistance in connection with the foregoing may be directed to OP Corporate Bank plc via email at [e-mail] .

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April 09, 2021 08:22 ET (12:22 GMT)