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Prospect News home > News index > List of issuers Tenders > Headlines for 2024 > News item
Published on 1/24/2024 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

Nova Ljubljanska accepts tenders totaling €219.6 million of notes due 2029, 2030

By Mary-Katherine Stinson

Lexington, Ky., Jan. 24 – Slovenia’s Nova Ljubljanska Banca, dd wrapped its cash tender offers for two series of subordinated notes, accepting a total of €209.6 million tendered notes across both series, according to a notice.

The company will purchase €110.1 million of its outstanding €120 million of 3.65% notes due 2029 with a reset and par call date on Nov. 19, 2024 (ISIN: XS2080776607) at 98.5, leaving €9.9 million outstanding.

Additionally, the company will purchase €109.5 million of its outstanding €120 million of 3.4% notes due 2030 with a reset and par call date on Feb. 5, 2025 (ISIN: XS2113139195) at 98, leaving €10.5 million outstanding.

The issuer will also pay accrued interest.

The offers expired at 11 a.m. ET on Jan. 23.

Settlement will occur on Jan. 26.

The tender offers were subject to a new-financing condition, which was satisfied on Jan. 24.

As previously reported, the bank separately announced on Jan. 15 plans to issue tier 2 subordinated notes with a 10-year tenor. Holders who participate in the tender offers and wish to subscribe for the new notes may be given priority in the allocation of the new notes.

BNP Paribas (+33 1 55 77 78 94; liability.management@bnpparibas.com), BofA Securities Europe SA (+33 1 87 70 10 57; DG.LM-EMEA@bofa.com), Morgan Stanley Europe SE (+44 20 7677 5040; liabilitymanagementeurope@morganstanley.com), Nova Ljubljanska banka dd, Ljubljana (+386 1 476 3831; attn.: Taja Mohorcic; taja.mohorcic@nlb.si) and UniCredit Bank GmbH (+49 89 378 18825; liability.management@unicredit.de) are the dealer managers for the tender offer.

Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130; nlb@investor.morrowsodali.com; https://projects.morrowsodali.com/nlb) is the tender agent.

The lender is based in Ljubljana, Slovenia.


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