Bankinter announced on Monday the launch of an offer of perpetual securities eventually convertible into newly issued common shares, excluding preferential subscription rights, for a maximum amount of 300 million euros.

In a communication to the National Securities Market Commission (CNMV), the entity has explained that it expects these securities to count as additional Tier 1 capital for the group, in accordance with applicable solvency regulations.

The issuance is addressed only to qualified investors, without prejudice to the additional sales restrictions established in the issuance documentation.

Bankinte will request the admission to trading of the securities on the ‘Global Exchange Market’ of the Irish Stock Exchange.