November 4, 2019 / 9:37 AM / 3 months ago

Slovenia's NLB bank plans Tier 2 issue with maturity of 10 years

LJUBLJANA, Nov 4 (Reuters) - Slovenia’s largest bank Nova Ljubljanska Banka (NLB) plans to issue Tier 2 subordinated notes with a maturity of 10 years and a possibility of being reedemed by the issuer after 5 years, the bank said in a statement on Monday.

It gave no further details on the issue but added it has mandated UBS Investment Bank to organise a number of meetings and calls with fixed income investors across Europe between Nov. 6 and 8 prior to the issue, which depends upon market conditions.

NLB, which owns banks in Slovenia, Serbia, Bosnia, Montenegro, Kosovo and Macedonia, filed a non-binding bid in September to purchase Serbia’s second-largest lender, Komercijalna Banka, according to unofficial sources.

Reporting by Marja Novak, editing by Louise Heavens

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