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Slovenia's NLB to issue 120 mln euro of subordinated notes on Nov 19

Slovenia's NLB to issue 120 mln euro of subordinated notes on Nov 19 NLB Banka Beograd headquarters in Belgrade Source:

LJUBLJANA (Slovenia), November 13 (SeeNews) – Slovenia's Nova Ljubljanska Banka [LJSE:NLBR] said it plans to issue 120 million euro ($132.2 million) of Tier 2 subordinated notes on November 19.

“The interest on the principal of the subordinated notes will accrue at the interest rate of 3.65% per annum and the issue price will be equal to 100% of their nominal amount,” Nova Ljubljanska Banka (NLB) said in a filing with the Ljubljana Stock Exchange (LJSE) late on Tuesday.

NLB said that the collection of orders for initial sale of its subordinated notes, which have been offered to eligible counterparties and professional clients outside the U.S., has been concluded successfully.

"The investor base is diverse, coming from high quality international as well as regional accounts," NLB noted.

The planned issue will mature in 10 years and will be callable after 5 years, NLB said earlier.

NLB shares closed at 56.4 euro on Tuesday, up 0.36%.

In November 2018, the Slovenian government sold 59.1% of NLB's issued share capital in an IPO on the LJSE, while in June 2019, Slovenia’s sovereign holding company successfully concluded NLB's privatisation by completing the placement to institutional investors. The sale left the government with 25% plus one share in NLB.

($ = 0.90729 euro)