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)