Admirals Group AS Sets August 10 Payment Date for Early Redemption of Tier 2 Subordinated Bonds | LeapRate
Admirals Group AS has announced it will early redeem its Tier 2 Subordinated Bonds, first issued on 5 February 2021 with a follow up issuance on 31 May 2021, and registered under ISIN code EE3300001999.
The redemption follows the terms set out in the Base Prospectus and the Terms and Conditions governing the bonds. Under those provisions, the issuer is permitted to redeem the bonds in full or in part once five years have passed since the issue date, provided it has secured approval from its supervisory authority and given bondholders at least 30 calendar days’ notice.
That approval has now been granted. The Cyprus Securities and Exchange Commission, which serves as the competent consolidated supervisory authority for Admirals Group AS, signed off on the early redemption on 22 June 2026.
The redemption will cover all 27,016 outstanding bonds, each carrying a nominal value of EUR 100, bringing the total nominal value redeemed to EUR 2,701,600. Bondholders will receive the full nominal value of their holdings plus any accrued and unpaid interest, with the total payout set at EUR 100.11 per bond.
Admirals Group confirmed that the redemption payment date is 10 August 2026. Eligibility for payment will be based on bondholder records as of the close of business on 6 August 2026 within the Nasdaq CSD settlement system, serving as the official record date.
Once the redemption amounts are paid in full, the affected bonds will be treated as redeemed and subsequently removed from the register.
