The bank plans to issue up to 500 ordinary, unsecured, freely transferable bonds with a nominal value of 100,000 euro each, equal to their issue price, the FSC said in a decision published on Tuesday.
The issue will have a maturity of 30 months and a fixed coupon rate based on market conditions, with interest payments due quarterly. The principal will be paid back in one go at maturity. Additionally, TBI Bank has the right to exercise a call option one year before maturity, upon disqualification of the bonds as eligible liabilities or for tax reasons.
The FSC entered the bonds subject to an IPO into its register of public companies and other issuers of securities, it said.
In December, TBI Bank issued an oversubscribed 10 million euro three-year bond, its second for 2023.
($ = 0.9205 euro)