LBG is launching a prioritized exchange offer for eligible holders of ECNs to exchange them for new additional Tier One securities. This is due to recent developments in higher capital requirements for banks, which may affect the ECNs' going concern benefit under future stress tests. The exchange offer aims to eliminate uncertainty around the regulatory call right in the ECNs and meet the group's medium-term additional Tier One target.
documents/vol00010-efta01461505-pdf.pdf
{"document_type":"financial","key_organizations":["LBG"],"reference_numbers":["US539439AG42"]}