AS “Citadele banka” (“Citadele”) has successfully issued EUR 50 million of Senior Unsecured Preferred Bonds.
The issuance was priced at a fixed interest rate of 5.15% per annum until the Reset Date and attracted strong investor demand, with total orders exceeding 1.35 times the maximum offering size of EUR 50 million.
The issuance attracted 30 investors. 50% of the total amount was allocated to the Nordic Investment Bank (NIB), an international financial institution, while the remaining 50% was allocated to investors from the Baltic States, the Nordic countries and other European markets.
“The strong investor interest in the bond issuance demonstrates confidence in Citadele. This issuance forms part of our long-term funding strategy, enabling us to maintain a balanced funding structure while providing a solid foundation for further lending growth. We highly value the participation of investors from both the Baltic States and other European countries,” says Valters Ābele, Member of the Management Board, Chief Financial Officer at Citadele.
The net proceeds from the issuance are to be used by Citadele for general corporate purposes, including, to meet the minimum requirement for own funds and eligible liabilities applicable to Citadele and Citadele Group at the consolidated level and to repurchase Citadele’s outstanding EUR 40,000,000 Subordinated Bonds (ISIN LV0000880102), issued under its EUR 40,000,000 Fourth Unsecured Subordinated Bonds Programme.
The Bonds are expected to be listed on the Baltic Bond List of Nasdaq Riga on or around 1 October 2026.