AS "Citadele banka" (Citadele) Management Board has approved the Fifth Unsecured Subordinated Bond Programme, the total size of the program is up to EUR 60 million with a maturity of up to 10 years. The first issuance of subordinated bonds under the programme is expected to take place in the near future, subject to market conditions.
The proceeds from the offer are intended to be used by Citadele to further strengthen its regulatory capital structure, including utilization as Citadele’s subordinated capital in accordance with the requirements of the Capital Requirements Regulation (CRR) and any other applicable regulations for Tier 2 capital.
More detailed information will follow upon the approval of the prospectus or upon the determination that further disclosure is appropriate in accordance with applicable law.
About the Citadele Group
Citadele’s, rated Baa2 (positive) by Moody’s, mission is to modernise the financial industry and offer more opportunities to private individuals and businesses throughout the Baltics. In the 12 months ended 31 December 2023, Citadele issued EUR 897 million in new loans, with its total loan portfolio reaching EUR 2.9 billion, while total deposits reached EUR 3.8 billion.
Alongside a modern universal banking platform, Citadele offers its clients a range of services based on next-generation financial technology, including its modern app, contactless payments and instant payments. Citadele was the first in the Baltics to introduce account opening with a selfie, payment rings and payments to mobile numbers. Meanwhile, businesses make active use of our remote account opening, Citadele Phone POS card acceptance app and Klix universal e-commerce tool, as well as applying for financing to develop their business.
Citadele Bank is the Group’s parent company in Latvia, and its subsidiaries and branches operate in Latvia, Lithuania and Estonia.