Business
New Tier 2 Issue Pricing and Buyback of securities
New Tier 2 Issue Pricing and Buyback of securities.
About this update from Secure Trust Bank Plc
[{"type":"text","content":"\n \n \n \n PRESS RELEASE\n \n \n \n \n Secure Trust Bank PLC\n \n \n \n \n LEI: 213800CXIBLC2TMIGI76\n \n \n \n \n \n \n \n \n \n \n \n \n For immediate release\n \n \n \n \n 22 February 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n SECURE TRUST BANK PLC (\"STB\")\n \n \n \n Re: New Tier 2 Issue Pricing and Buyback of securities\n \n \n \n STB, a leading specialist lender in the UK, announces that it has today priced a new issue of £90,000,000 13.00 per cent. Fixed Rate Reset Callable Subordinated Notes due 2033 (the \"New Notes\") with settlement expected to occur on or about 28 February 2023. On settlement, the New Notes will be listed on the International Securities Market of the London Stock Exchange.\n This issuance is in line with the Group's funding strategy and supports the Group's stated medium-term growth ambitions.\n \n \n In addition, STB announces that it has today agreed, conditional on the settlement of the New Notes, to buy back the entire aggregate principal amount of its existing £25,000,000 6.75 per cent. Fixed Rate Reset Callable Subordinated Notes due 2028 (ISIN: XS1881799834). The buyback is expected to be completed on the same day as the settlement of the New Notes.\n \n \n \n \n \n \n David McCreadie, Chief Executive Officer, said:\n \n \n \n \n \n \n \"We have demonstrated our capability to capture significant growth opportunities across our diversified specialist lending businesses. We are pleased with the support we have received from existing and new holders for our new Tier 2 issuance. With this enlarged regulatory capital base we are strongly positioned to continue to help consumers and businesses fulfil their ambitions.\"\n \n \n \n \n \n \n Enquiries:\n \n \n \n David McCreadie, Chief Executive Officer\n \n \n Rachel Lawrence, Chief Financial Officer\n \n \n Phil Clark, Investor Relations\n \n \n Telephone number: +44 121 693 9100\n \n \n \n \n \n \n About STB:\n \n \n \n STB is an established, well‐funded and capitalised UK retail bank with a 70-year trading track record. STB operates principally from its head office in Solihull, West Midlands, and had 833 employees (full‐time equivalent) as at 31 December 2022. STB's diversified lending portfolio currently focuses on two sectors:\n \n \n (i) Business Finance through its Real E...