November 20, 2014 / 7:03 AM / 3 years ago

Saxo Bank issues Tier 1 capital of 42.5 mln euros

COPENHAGEN, Nov 20 (Reuters) - Denmark's Saxo Bank said on Thursday it has issued additional Tier 1 capital of 42.5 million euros ($53.4 million) to strengthen further its capital structure.

The issuance is a perpetual bond with a first call on Feb. 26, 2020 and the coupon has been fixed at 9.75 percent until the first call date.

The bond will be listed on the Irish Stock Exchange, it said in a statement.

"Saxo Bank has seized an opportunity to meet forthcoming capital requirements," Chief Financial and Risk Officer Steen Blaafalk told Reuters.

$1 = 0.7961 euro Reporting by Ole Mikkelsen, editing by David Evans

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