UniCredit Bank Slovenija d.d.
Summary:
Due to an expected increase in settlement activity, KDD will extend the deadline for settlement against payment of OTC transactions. UniCredit Bank Slovenia will extend its settlement deadline as well as the deadline for cash transfers accordingly on 4 November 2014.
Thu, 30/10/2014
On 28 October 2014, the Slovenian Government issued a government bond with a face value of EUR 1 billion. The ISIN code of the bond is SI0002103453 (7-year maturity). The settlement of the new issue will take place on 4 November 2014.
As a result of the expected increase in settlement activity, KDD will prolong the deadline for settlement against payment of OTC transactions with the newly issued bond (as identified above) from 16:00 CET to 16:45 CET, applicable only to the settlement date 4 November 2014.
Consequently UniCredit Bank Slovenia will also prolong its deadline towards clients for settlement of transactions with the above bonds until 16:15 CET (30 minutes prior to the market deadline) on that day only. All instructions received after this deadline will be settled on a best-effort basis.
Furthermore, UniCredit Bank Slovenia will also extend its cut-off time for bank-to-bank cash payments (SWIFT MT200 and MT202) until 17:00 CET on 4 November 2014 only.
Impact on investors: The increased deadline for settlement of the new issue of this government bond will contribute to reducing the amount of settlement failures and therefore – operational risk. The extended cash cut-off times will accommodate the possibility for later settlement of securities transactions with the newly issued government securities and will allow for an efficient management of our clients' cash balances in line with their liquidity policies.