Welcome to the edition 18 of your shareholder newsletter. In this newsletter, we announce our intention to undertake a new debt issuance and advise shareholders of the publication of the 2017 Annual Report and Accounts.
Strengthening your Company’s financial position
We have today announced our intention to issue €700 million debt from Euroclear Investments SA, a group holding company, to further strengthen your company’s robust financial position in the context of the Bank Recovery and Resolution Directive (BRRD). This follows a successful issuance of €600 million by Euroclear Investments SA in 2016.
The BRRD requires banks to meet a minimum requirement for own funds and eligible liabilities (MREL) so as to be able to absorb losses and restore their capital position, allowing them to continuously perform their critical economic functions in the event of a crisis.
The proceeds of the transaction would be down-streamed to Euroclear Bank and Euroclear SA/NV to reinforce their recovery capital, in the form of instruments that include MREL and other loss absorption features.
Euroclear plc Annual Report 2017 now published
We have made your company’s Annual Report and Accounts for the year ended 2017 available on the Euroclear investor relations website, www.euroclear.com/ir.
The Annual Report remains subject to acceptance by shareholders at the annual general meeting, which is planned for 8 May 2018. We plan to send you the necessary documentation for the general meeting at the record date, which is 3 April 2018.
As always, I hope that you find this newsletter informative.
Marc Antoine Autheman