|Emitents||Citadele banka, AS (2138009Y59EAR7H1UO97)|
|Veids||2.2. Iekšējā informācija|
AS "Citadele Banka" has completed issuance of 200 million euros of senior unsecured preferred bonds. The bonds were issued with five years maturity, with issuer’s optional redemption date after four years. The purpose of the issuance is to meet Minimum Requirement for own funds and Eligible Liabilities (MREL). Proceeds from the offer are to be used by Citadele for its general corporate purposes.
"The issue of the bonds today is the first time Citadele has tapped international capital markets. This important step has been taken to meet the Bank’s future regulatory MREL requirements simultaneously increasing the investor base and strengthening Bank’s liability structure. With the current issue we have mainly targeted institutional Baltic and Scandinavian investors, as we received positive feedback and interest from them”, said Johan Akerblom, Citadele CEO.
The senior unsecured preferred bonds were offered to institutional investors. In total almost 40 investors participated in the offering. Out of total order book 59% was received from Nordic and Baltic investors, 27% from UK and 14% from investors of other European countries. The bonds were issued at a spread of 185 basis points over the mid-swap rate. The new security was priced with a coupon of 1.625%.
The bonds are expected to be listed on Euronext Dublin and Nasdaq Riga. The bonds are rated Baa3 by Moody’s.