June 2009

Financial advisor to Skjern Bank in connection with the issue of subordinated loan capital

ATRIUM advised Skjern Bank in the process of issuing DKK 100 m subordinated loan capital at 8 % until 2017, which has been listed on NASDAQ OMX Copenhagen.

Being among the 20 largest financial institutions in Denmark, Skjern Bank secured capital resources for supporting future growth and improved its solvency margin in case of unexpected additional impairments.

The subordinated debt was distributed amongst more than 600 private individuals and companies primarily from the Southwest of Denmark. No single subscription was larger than 5 % of the total amount.

The emission was a supplement to the reduced hybrid core capital from the second bank bailout package, in order for the bank to offer its customers and shareholders a high yield investment opportunity.

ATRIUM worked as exclusive financial advisor to Skjern Bank and managed to ensure the desired capital adequacy, as well as a satisfactory dispersion of the subordinated capital.