Citadele’s subordinated bonds with a total nominal value of EUR 20 million have today been listed on the Baltic Bond list of the “Nasdaq Riga” Stock exchange. The 10 year bonds carry a coupon rate of 5.5%, which will be paid semi-annually. More than 20 investors subscribed to the bonds within initial placement.
The securities identification number (ISIN) is LV0000880011 and bonds will be traded under the CBLB055027A stock exchange code.
The bonds were issued to strengthen Citadele Group’s overall capital position, to facilitate the execution of the Bank’s Baltic growth strategy and to refinance the current subordinated debt outstanding to the European Bank for Reconstruction and Development.
Citadele Group is managed from Latvia and its subsidiaries and branches operate in Latvia, Lithuania, Estonia and Switzerland. Citadele provides transactions and card payments, loans, deposits, investments, asset management and leasing services, as well as a range of exclusive and unique products. Citadele’s shareholders are an international and multinational group of investors with experience in the banking sector worldwide. 75% plus one share belongs to a group of international investors represented by the investment company “Ripplewood Advisors LLC,” while the remaining shares belong to the European Bank for Reconstruction and Development (EBRD).