Secure Trust Bank PLC New Tier 2 Issue Pricing and Buyback of securities (7668Q)
23 2월 2023 - 3:20AM
UK Regulatory
TIDMSTB
RNS Number : 7668Q
Secure Trust Bank PLC
22 February 2023
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
For immediate release 22 February 2023
SECURE TRUST BANK PLC ("STB")
Re: New Tier 2 Issue Pricing and Buyback of securities
STB, a leading specialist lender in the UK, announces that it
has today priced a new issue of GBP90,000,000 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. This issuance is in
line with the Group's funding strategy and supports the Group's
stated medium-term growth ambitions.
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 GBP25,000,000 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.
David McCreadie, Chief Executive Officer, said:
"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."
Enquiries:
David McCreadie, Chief Executive Officer
Rachel Lawrence, Chief Financial Officer
Phil Clark, Investor Relations
Telephone number: +44 121 693 9100
About STB:
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:
(i) Business Finance through its Real Estate Finance and
Commercial Finance divisions; and
(ii) Consumer Finance through its Vehicle Finance and Retail Finance divisions.
STB is authorised in the UK by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority.
Secure Trust Bank PLC, One Arleston Way, Solihull, B90 4LH.
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END
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