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LJUBLJANA - Slovenia's Nova Ljubljanska Banka d.d. (NLB) announced Wednesday it will issue €300 million in additional Tier 1 notes following orders received from eligible counterparties and professional clients outside the United States.
The perpetual notes, which have no fixed maturity date, are expected to be issued on November 26, 2025, according to a company statement. The securities will carry an initial interest rate of 6.50% per annum until November 26, 2030, after which the rate will be reset for each subsequent five-year period.
NLB will have the option to redeem the notes on November 26, 2030, and on each subsequent interest payment date thereafter. The bank also retains the right to cancel interest payments at its discretion.
The notes are designed to qualify as Additional Tier 1 Instruments, which help strengthen the bank's capital position under regulatory requirements. The principal will only be redeemed when the company voluntarily decides to do so or in the event of bankruptcy or liquidation.
The securities will be issued at 100% of their nominal amount with the ISIN code XS3227899989.
NLB initially announced plans for the note issuance on November 17, 2025, based on the press release statement.
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