The BME's fixed income market, MARF, has admitted to trading a new issue of Preferred Shares eligible as Non-cumulative Additional Tier 1 Capital of MyInvestor Banco for an amount of 25 million euros.
The new Preferred Shares have a coupon of 12%, payable quarterly, whose payment is subject to certain conditions and is at the discretion of the issuer, a unit par value of €100,000 and their maturity will be perpetual except in the situations of early redemption provided for in the terms and conditions of the issue and set out in EU Regulation 575/2013.
MyInvestor Banco's business model generates an ROE of more than 25%, more than double the cost of capital of this issue, with which it reaches a Tier 1 capital ratio of 32%.
The placement was of a private nature and was aimed exclusively at qualified investors and professional clients.
Andersen Tax & Legal Iberia has participated as Registered Advisor to MyInvestor Banco. Banco Inversis is the Paying Agent for the issue and Cuatrecasas is the Legal Advisor to the issuer.
MyInvestor Banco is a neobank supervised by the Bank of Spain and by the CNMV and adhered to the Spanish Deposits Guarantee Fund. It has a business volume of more than 3,000 million euros and more than 180,000 customers. MyInvestor Banco offers the full range of banking services: remunerated accounts, investment products (funds, shares, ETFs, plans and roboadvisor of indexed portfolios), cards, credits to invest, credits for consumption, mortgages and insurance policies.