Published: 2020-03-06 15:00:00 CET
Citadele banka
Prospectus/Announcement of Prospectus

Offering period of Citadele’s subordinated bonds will start shortly

Riga, 2020-03-06 15:00 CET -- On 3 March 2020, the Financial and Capital Market Commission of Latvia approved the Base Prospectus of EUR 30,000,000 Third Unsecured Subordinated Bonds Programme of AS “Citadele banka” dated 2 March 2020. On 4 March 2020 the management board of the bank approved the initial Final Terms of the First tranche of the First series of subordinated bonds.

Within the framework of its EUR 30,000,000 Third Unsecured Subordinated Bonds programme, bank Citadele commences the offering period for subordinated bonds of the first tranche of the first series. The offering period will last from 14:00 (Latvian time) on 9 March 2020 until 16:00 (Latvian time) on 18 March 2020.

The planned offering size of the bonds of the first tranche of the first series is up to EUR 30 million. The date of the issuance is expected on 24 March 2020. The bonds will be offered to investors in Latvia, Lithuania and Estonia. The qualified investors from other states of the European Economic Area will also be able to acquire the bonds.

The net proceeds from the Offer are to be used by Citadele for its general business development and to strengthen further the regulatory capital structure of Citadele, including use as Citadele’s subordinated capital in accordance with the requirements of the CRR and any other applicable rules for Tier 2 capital.

The planned issue price is 100% of the nominal value. Each bond’s nominal value constitutes EUR 10,000. The minimum investment amount during the initial offering is at least 10 subordinated bonds. Interest payments on the bonds will be made twice a year on the dates specified in the Final Terms. The bonds will mature in 10 years, however Citadele has right to redeem the bonds prematurely.

The Base Prospectus of the bonds issuance registered with the Financial Capital and Market Commission determines the general terms and conditions of the EUR 30,000,000 Third Unsecured Subordinated Bonds Programme; whereas, the exact size of the issuance of each tranche of each series, the price of bonds, maturity date, yield and other parameters are included in the Final Terms of the respective issuance. The bonds are planned to be included in the regulated market – the Baltic Bond List of “Nasdaq Riga” stock exchange. Edijs Poga Law Office acts as the bank’s legal adviser. Redgate Capital acts as the bank’s financial adviser.

About Citadele

Citadele is a Latvia-based bank offering retail, private banking, asset management, lending, leasing and other commercial banking services. Its subsidiaries and branches operate in Latvia, Lithuania, Estonia, and Switzerland. Citadele is the third largest bank in Latvia by number of clients. AS Citadele banka is the parent company of the Group, registered as a joint stock company on 30 June 2010.

Citadele’s mission is to modernise the banking sector and offer more opportunities to clients and businesses throughout the Baltics; our aim is to become the Baltic banking champion. Alongside traditional banking services, Citadele offers its clients a range of services based on next-generation financial technology, including, among other things, a modern mobile banking app, contactless and instant payments, modern client onboarding practices and technologically-enabled best-in-class customer service.

Citadele’s shareholders are an international group of investors with global experience in the banking sector. 75% plus one share belong to a consortium of investors led by Ripplewood Advisors LLC and co-investors; 25% minus one share belong to the European Bank for Reconstruction and Development (EBRD).

 

 

 

Further information:

 

Kristīne Mennika

Head of Corporate communications

Phone: +371 26528533

E-mail: Kristine.Mennika@citadele.lv

 

Ilona Frīdmane

Head of Investor Relations

Telephone: +371 67010183

E-mail: IR@citadele.lv

 

Mihails Goļevs

Head of Financial Institutions Division

Phone: +371 6 777 8585

IR@citadele.lv


Issue specific summary_ENG.pdf
Final Terms.pdf