22nd Feb 2023 19:41
Secure Trust Bank PLC - Solihull, England-based savings accounts and lending services provider - Prices a new issue of GBP90.0 million 13% fixed rate reset callable subordinated notes due 2033. Expects the settlement to occur on or about February 28. Agrees on the settlement of the new notes to buy back the entire aggregate principal amount of its existing GBP25.0 million 6.75% fixed rate reset callable subordinated notes due 2028. Expects the buyback to be completed on the same day as the settlement of the new notes.
"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," Chief Executive David McCreadie says.
Current stock price: 752.00 pence
12-month change: down 43%
By Abby Amoakuh, Alliance News reporter
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