Citadele Bank

AS “Citadele banka” plans to issue new Subordinated Bonds

Published on

Citadele’s shareholders have approved the plans to launch Citadele’s Second Unsecured Subordinated Bonds Programme and issue new Subordinated Bonds in the amount of up to EUR 25 million before the end of 2017 in order to refinance the current outstanding subordinated debt to the European Bank for Reconstruction and Development and further improve  Citadele’s capital adequacy ratio which on 30 June of 2017 was 19.6% (16.7% on the Group’s level). The proceeds from the issuance of the Subordinated Bonds within the Citadele’s EUR 40 million First Unsecured Subordinated Bonds Programme which was completed at the end of last year were used for repayment of the subordinate debt owed to the Latvian Privatisation Agency. The current credit rating assigned to Citadele’s long term deposits by Moody’s is Ba2 (with the positive outlook). More detailed information will follow after the approval of the base prospectus by Citadele’s Management Board and the Financial and Capital Market Commission of Latvia.

Recent press releases

All press releases