EBRD invests €37.5mn in Slovenian NKBM's private bond issue

By bne IntelliNews May 20, 2021

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.

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