URSA Bank retired ?59m worth of bonds and liabilities at par by February 11, 2009 after declaring early in January that they were planning on buying out their ?400m-issue of Euro bonds. The schedule of this buy-out program provides for acquiring the Euro bonds issued by URSA Finance Plc in May 2007; the coupon yield was determined at 7% a year, while the bonds were to be in circulation for three years. URSA Bank intends to buy the bonds on the public market as well as through private deals.

‘URSA Bank is known as a company that cares about its investors and partners’ interests and offers all those interested a range of buying-out options on various kinds of liabilities,’ says URSA Bank’s Managing Director John McNaughton.

In addition to this, URSA Bank is also going through the retirement of another, ?300m bond issue, to be retired in November 2011.