NLB announced it is planning to issue Tier 2 subordinated notes. The company has decided to issue the notes in the aggregate nominal amount of EUR 225m. The interest on the principal will accrue at the interest rate of 10.75% per annum and the issue price will equal to 99.1% of their nominal amount.

Yesterday, NLB announced it is planning to issue Tier 2 subordinated notes. On the basis of orders received from counterparties and clients, the company has decided to issue the subordinated notes in the aggregate nominal amount of EUR 225m. The interest on the principal will accrue at the interest rate of 10.75% per annum and the issue price will equal to 99.1% of their nominal amount.

Further, the notes are expected to be issued on 28 November 2022 with a maturity date on 28 November 2032 and the issuer will have the option for early redemption on 28 November 2027.

The ISIN code of the notes will be XS2413677464.

NLB Share price [2020 – 2022]

Source: Bloomberg, InterCapital Research