Business News

NKBM Wraps Up EUR 26M Bond Issue

Maribor, 30 December (STA) - Slovenia's second-largest bank, the NKBM, announced on Wednesday it had sold EUR 26m worth of bonds with characteristics of innovative financial instruments. Institutional investors and the state each bought half of the issue.

The bonds carry an annual fixed interest rate of 8.7% with no set period of maturity. The bonds are registered as part of the bank's core capital since Tuesday, NKBM said.

The bond issue was part of efforts to adjust the bank's capital adequacy, currently standing at 11%, to the situation on global financial markets.

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