NLB successfully issued subordinated Tier 2 notes

The final maturity of subordinated notes is 5 February 2030, with a call option on 5 February 2025. The transaction which was led by UBS Europe SE and NLB, will allow NLB to further strengthen and optimise its capital structure. 

Investor demand lead to substantial oversubscription of the order book at roughly 2,5 times offer size (in excess of 300mln). The investor base is dispersed and includes international as well as regional investors, mainly from the United Kingdom, Czech Republic, Slovenia, France, the rest of Europe and Asia. Majority of demand was sourced from large international fund managers, International Financial Institutions, pension funds, insurance companies and banks.   

The notes with a yield of 3.40% p.a. and BB rating by the S&P rating agency, were on the issuance date admitted to trading on the Euro MTF Market operated by the Luxembourg Stock Exchange.