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Slovenia’s bank NLB plans subordinated Tier 2 issue

LJUBLJANA (Reuters) – Slovenia’s largest bank NLB <NLBR.LJ> plans to issue Tier 2 subordinated notes which will be included in the bank’s additional capital, NLB said in a statement on Thursday.

It said the issue depends upon market conditions, adding the notes would mature in 10 years and be callable after 5 years. The bank, which gave no further details on the notes, has mandated USB Investment Bank to organise the issue.

Last month NLB said it will repay another subordinated Tier 2 issue in the value of 45 million euros ($49.9 million) early after failing to receive the European Central Bank’s approval to count the issue as additional capital.

(Reporting By Marja Novak; Editing by Elaine Hardcastle)