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HCOB Funding II

HCOB Funding II

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Publicatie datum 06 feb 2013 - 21:16
Statutaire naam HCOB Funding II
Titel HSH N Funding II: Earnings prospects of HSH Nordbank AG
Bericht HSH N Funding II (the Company) announces the following: The Company was informed by HSH Nordbank AG, Hamburg and Kiel ("the Bank"), that in today's meeting the supervisory board of the Bank approved of the financial planning submitted by the management board. The total expenses resulting from the new financial planning will result in net losses for the business years 2013 and 2014 in the Bank's P&L according to German GAAP (HGB). The financial result of the years 2015 up until 2017 will be needed to reverse all accrued haircuts and to write-up the hybrid instruments to par value. Against this backdrop coupon payments on silent participations and profit participations will not be made until 2017. Coupon payments are expected to resume earliest on coupon payments date 30 June 2018.

Datum laatste update: 28 juli 2024