Chicago, June 22 – Nova Kreditna Banka Maribor d.d. priced €400 million of 7 3/8% senior preferred notes due 2026 (Baa2) on Thursday, according to a market source.
The notes priced at mid-swaps plus 349.6 basis points.
Initial talk was in the 8% area.
The notes will have two years of call protection.
If the notes are not redeemed on the optional redemption date, the coupon will reset at Euribor plus 349.6 bps.
Erste Group (billing and delivery), BNP Paribas, Goldman Sachs Bank Europe SE, OTP Bank and UniCredit are joint bookrunners for the Regulation S notes.
Proceeds will be used for general bank and other corporate purposes.
Investor calls started Wednesday for the offering.
The lender operates in Slovenia, Austria, Croatia and Serbia.
| Issuer: | Nova Kreditna Banka Maribor d.d.
|
| Amount: | €400 million
|
| Issue: | Senior preferred notes
|
| Maturity: | June 29, 2026
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| Bookrunners: | Erste Group (billing and delivery), BNP Paribas, Goldman Sachs Bank Europe SE, OTP Bank and UniCredit
|
| Coupon: | 7 3/8%
|
| Price: | Par
|
| Yield: | 7 3/8%
|
| Spread: | Mid-swaps plus 349.6 bps
|
| Call features: | Two years
|
| Trade date: | June 22
|
| Settlement date: | June 29
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| Ratings: | Moody’s: Baa2
|
| Distribution: | Regulation S
|
| Price talk: | 8% area
|
| Marketing: | Investor meetings
|
| ISIN: | XS2639027346
|
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