Slovenia’s largest bank, NLB, announced on September 20 that it has received clearance from the European Central Bank (ECB) for the early redemption of two subordinated bonds, originally set to mature in 2029 and 2030.
NLB confirmed that, with ECB approval, it will redeem its 10-year subordinated notes, with an aggregate nominal amount of €9.9mn. The bonds were issued on November 19, 2019, with a final maturity date of November 19, 2029.
These notes will be redeemed along with accrued and unpaid interest. The bank plans to execute the redemption on November 19, 2024.
In addition, NLB received approval for the early repayment of subordinated bonds issued on February 5, 2020, which were originally due to mature on February 5, 2030.
The total nominal value of the redeemed bonds will amount to €10.05mn, with early repayment to be made on the fifth anniversary of the issuance in 2025.
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