Multitude Bank explores issuing €25 million of subordinated floaters

Chicago, Nov. 3 – Multitude Bank plc (B+) intends to issue up to €25 million of subordinated floating-rate bonds with a 10-year tenor (B-), according to a notice.

There would be a call option five years after the issue date.

The bonds are being sold on a best-efforts basis.

Arctic Securities AS and Pareto Securities AB are arranging fixed-income investor meetings. The meetings started Nov. 1.

Proceeds will be used for general corporate purposes.

The notes will qualify as tier 2 capital.

The potential issuer is a subsidiary of Multitude SE. Multitude is a growth platform for financial technology based in Helsinki.

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