The notes will be maturing in 10 years and are callable after 5 years, subject to market conditions, which will be offered to eligible counterparties and professional clients outside the United States of America. 

NLB published an announcement on the Ljubljana Stock Exchange stating that they have mandated UBS Investment Bank together with NLB to organize issuance of Tier 2 subordinated notes.

The mentioned notes will be maturing in 10 years and are callable after 5 years, subject to market conditions, which will be offered to eligible counterparties and professional clients outside the United States of America. 

As a reminder, the company has on 17 September 2019 entered into a loan agreement relating to a EUR 45m of subordinated Tier 2 loan intended for the inclusion into additional capital to strengthen and optimize its capital structure. However, the company may only include the loan in calculation of additional capital according after obtaining an approval from the ECB. NLB noted that since such approval has not been granted by 23 December 2019 and it was not expected to be granted in the near future, the company decided to exercise the prepayment of the loan in January 2020.

NLB added that the mentioned prepayment of the loan will not jeopardize compliance by the company with the regulatory capital requirements, including capital buffers and other currently known requirements, applicable to it.

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