AS Citadele banka has successfully issued EUR 50 million of EUR-denominated perpetual Additional Tier 1 (“AT1”) temporary write down notes.

The issuance was priced with a final coupon of 7.125% and attracted an exceptionally strong orderbook of around EUR 180 million, representing 3.6x oversubscription. This represents the most competitively priced AT1 transaction out of the Baltics to date.

Moody’s has assigned a Ba3 rating to the newly issued AT1 securities and upgraded Citadele Banka’s senior unsecured debt rating to Baa1 from Baa2, outlook stable.

Proceeds from the issuance will be used for general corporate purposes, including, but not limited to, the repurchase and reduction of outstanding share capital of AS Citadele banka.

For further information, please contact: 

Vlad Ender, Head of Treasury, +372 5517213, vlad.ender@citadele.ee

About Citadele

Citadele’s, rated Baa1 (stable) by Moody’s, mission is to modernise the financial industry and offer more opportunities to private individuals and businesses throughout the Baltics. In H1 2025, Citadele issued EUR 765 million in new loans, with its total loan portfolio reaching EUR 3.5 billion, while total deposits reached EUR 4.0 billion. Alongside a modern universal banking platform, Citadele offers its clients a range of services based on next-generation financial technology, including its modern app, contactless payments and instant payments. Citadele was the first in the Baltics to introduce account opening with a selfie, payment rings and payments to mobile numbers. Citadele Bank is the Group’s parent company in Latvia, and its subsidiaries and branches operate in Latvia, Lithuania and Estonia.