Zagreb, 2 June 2023. – Erste Bank Croatia (EBC) has announced a public invitation for the subscription to the so-called “preferred senior” bonds on the domestic capital market, maturing in 2026, with a fixed interest rate of 4.5% and annual interest payments. The target amount of the issue is EUR 70 million, with the possibility of increasing the nominal amount up to 20%, depending on the interest of investors. The issue is intended for all investors, with a minimum investment amount of EUR 100,000, and the possibility of subscription is open until 16 June 2023 at 3 p.m. The announcement of the final amount of the issue is planned for 20 June, when the bonds will be issued, while their listing on the Official Market of the Zagreb Stock Exchange and the Vienna Stock Exchange is expected within one working day after the issue.
The goal of the planned bond issue is to meet the minimum requirements for own funds and eligible liabilities (MREL), which are part of the EU regulatory framework aimed at strengthening the financial system, increasing the resistance of credit institutions to unforeseen stress scenarios, and preventing systemic risk. In accordance with its strategy, EBC will use the funds collected through this issue for general financing purposes and the improvement of its core business.
In addition to providing an additional impulse to the development of the domestic capital market, by realising this issue, EBC wants to further confirm its position as the most active bond issuer among financial institutions in Croatia, whereby this issue would be the seventh in a row, including domestic and international ones. To remind, EBC was the first bank in Croatia to successfully issue its own bonds on the international capital market in 2021, in the total nominal amount of EUR 400 million.
For additional information please contact:
Erste&Steiermärkische Bank d.d., 51000 Rijeka, Jadranski trg 3a, www.erstebank.hr
Corporate Communications
Zagreb, Ivana Lučića 2, e-mail: pr@erstebank.com
Dario Gabrić, Phone: +385 (0)72 37 13 71; Mobile: +385 99 2371 371
Danijela Trbović, Phone: +385 (0)72 37 15 31; Mobile: +385 99 2371 531
Lucija Lakoš, Phone: + 385 (0)72 37 24 01; Mobile: +385 99 2372 401