September 21 (SeeNews) - Slovenia's Nova Ljubljanska Banka [LJSE:NLBR] said it plans to issue 82 million euro ($81.2 million) of Tier 1 subordinated notes on September 23.
The notes have no scheduled maturity date and the issuer will have the option for their redemption of the notes between September 23, 2027, and March 23, 2028, and on each distribution payment date thereafter, Nova Ljubljanska Banka (NLB) said in a filing with the Ljubljana Stock Exchange (LJSE) late on Wednesday.
“Until March 23, 2028, the interest on the principal of the notes will accrue at the interest rate of 9.721% per annum, and for each subsequent 5-year period, accrue at the applicable interest rate, which shall be reset prior to the commencement of each such period,” NLB said.
The issue price will be equal to 100% of the nominal amount of the notes, NLB added.
NLB shares closed flat at 57.40 euro on the Ljubljana Stock Exchange on Wednesday.
($ = 1.0098 euro)
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