Business News

NLB Sells EUR 61.4M in Subordinated Bonds

Ljubljana, 28 June (STA) - Slovenia's largest bank, NLB, has sold EUR 61.4m out of its latest issue of subordinated bonds worth EUR 100m. The bank will use the money from the bonds, which will be listed on the Ljubljana Stock Exchange, to boost its capital adequacy.

The issue, which was on sale until 24 June, attracted 881 investors who purchased a total of 614,187 bonds at nominal value of EUR 100, the bank said in a press release on Monday.

The annual interest rate will be fixed at 6.25%. The interest will be paid annually, on 24 May for the current year, and the principal is due on 24 May 2017. The bonds were issued without a state guarantee.

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