The company notes that with its two asset management companies (Triglav Skladi and ALTA Skladi), the Group is becoming the leading provider of mutual funds in the Slovene market.
Triglav Skladi, a Triglav Group member, has become the owner of ALTA Skladi Asset Management Company as of 24 April 2019. An agreement on the purchase was signed in September last year under certain suspensive conditions relating to obtaining the relevant authorizations of the competent regulatory bodies, which are now fulfilled.
The company notes that with its two asset management companies (Triglav Skladi and ALTA Skladi), the Group is becoming the leading provider of mutual funds in the Slovene market (holding a 34% market share). It manages assets worth over EUR 930m in a total of 36 mutual funds, while total assets under management amount is close to EUR 1bn.
Issue of a New Subordinated Bond
Besides that, the company also published that they have successfully issued a 30.5-year subordinated bond (Tier 2) with the first call date after 10.5 years.
The total issue amounts to EUR 50m. Until the first call date of the bond in 2029, the annual interest rate will be fixed at 4.375%, with the coupon payable annually. Afterward, the interest rate will be floating, with the coupon payable quarterly.
The bond replaces the existing issued subordinated bond with maturity in 2020. The new issue is intended for improving the capital structure of the company. Note that the bond issue is intended for qualified investors and will be traded on the regulated market of the Luxembourg Stock Exchange.