The European Bank for Reconstruction and Development (EBRD) said on May 20 it invested €37.5mn or 29.8% of the total amount of a senior non-preferred bond issued by Slovenia’s Nova Kreditna Banka Maribor (NKBM).
NKBM's private bond issue totaled €125.7mn. The issuance was marketed mainly to local institutional investors. This is the first senior non-preferred instrument issued by a Slovenian bank since the introduction of the EU Bank Recovery and Resolution Directive in the country.
The EBRD sais that the project supports the resilience and regulatory compliance of the second largest bank in Slovenia and contributes to the capital market development in the country.
It also aims to support strong Green-impact targets with at least 150% of the EBRD's investment to be allocated to financing green projects in line with the EBRD's Green Economy Transition eligibility criteria.
In terms of assets, NKBM has a market share of 21% as of end 2020. The ultimate owners of NKBM are Apollo Global Management (80%) and the EBRD (20%).
NKBM is rated BBB- by Fitch with stable outlook and Baa1 by Moody's with stable outlook, both investment grade.
Related Articles
Azerbaijan tightens banking operations on foreign financial sources
Azerbaijan has implemented new restrictions on banking operations involving foreign financial sources, with amendments signed by President Ilham Aliyev targeting unregistered foreign financial ... more
Uzbekistan’s banking sector becoming more resilient, says Fitch
Uzbekistan’s banking industry is becoming more resilient, with the sector underpinned by ongoing structural reforms, stronger regulation and improving governance, ... more
Citibank opens Tashkent representative office
Citibank has officially established a presence in Uzbekistan with the opening of a representative office in Tashkent, according to a statement from the Central Bank of Uzbekistan (CBU). ... more