JSC “Citadele banka” repays subordinated loan to SJSC “Privatisation agency”

On 4 January 2017, AS “Citadele banka” has made an early repayment of the outstanding EUR 34.7 million subordinated loan and accrued interest of EUR 0.98 million to the State Joint Stock Company "Privatisation agency". 

On 6 December 2016, AS “Citadele banka” issued subordinated bonds in amount of EUR 40 million. According to the Base Prospectus, the aim of the issuance, among others, was early repayment of the outstanding amount of subordinated debt to Joint Stock Company “Privatisation agency”. The remaining proceeds from the issuance is planned to be used to strengthen the overall capital of AS “Citadele banka” and to facilitate the execution of the bank’s growth strategy across the Baltics.