"Citadele Bank Successfully Issues €50 Million in AT1 Notes with Strong Demand"

"Citadele banka AS has issued EUR 50 million in perpetual Additional Tier 1 (AT1) notes with a coupon rate of 7.125%, achieving a strong demand with oversubscription of 3.6 times. The funds will be used for general corporate purposes, including share capital reduction. COBALT's Banking and Finance team provided legal support for the issuance."

In a recent transaction, the law firm COBALT provided legal assistance to Citadele banka AS in connection with the issuance of EUR 50 million of EUR-denominated perpetual Additional Tier 1 (AT1) temporary write down notes. The issuance was priced with a final coupon of 7.125% and garnered an impressive orderbook of approximately EUR 180 million, resulting in a 3.6x oversubscription. This transaction marks the most competitively priced AT1 issuance from the Baltics to date. The proceeds from the issuance will be utilized for general corporate purposes, including the repurchase and reduction of outstanding share capital of AS Citadele banka. The COBALT Banking and Finance team involved in this transaction included Partners Edgars Lodziņš and Sandija Novicka, along with Senior Associate Krišjānis Bušs.

"Citadele Bank Successfully Issues €50 Million in AT1 Notes with Strong Demand"

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads