Secure Trust Bank PLC Issue of Debt (9240U)
17 July 2018 - 11:35PM
UK Regulatory
TIDMSTB
RNS Number : 9240U
Secure Trust Bank PLC
17 July 2018
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
17 July 2018
For immediate release
SECURE TRUST BANK PLC
Issue of Regulatory Capital
Secure Trust Bank PLC ("STB" or the "Bank") announces that it
has today completed an issue of GBP25,000,000 6.75% Fixed Rate
Reset Callable Subordinated Notes due 2028 (the "Notes"). The Notes
mature in 2028 but STB may at its discretion redeem the Notes in
2023.
The Notes will be treated as Tier 2 regulatory capital which
will be used to support the continuing growth of the business
taking into account increases in regulatory capital buffers. The
issue of the Notes is part of an on-going programme to diversify
and expand the capital base of the Bank.
The issue of the Notes is a debut bond issue by the Bank. The
Notes are listed on the Global Exchange Market of the Irish Stock
Exchange plc trading as Euronext Dublin.
Credit Suisse was the Sole Bookrunner in relation to the issue
of the Notes.
-ENDS-
Enquiries:
Secure Trust Bank PLC
Paul Lynam, Chief Executive Officer
Neeraj Kapur, Chief Financial Officer
Tel: 0121 693 9100
About the Company:
Secure Trust Bank is an established, well-funded and capitalised
UK retail bank with a 66 year trading track record. Secure Trust
Bank operates principally from its head office in Solihull, West
Midlands, and had 767 employees (full-time equivalent) as at 31
December 2017. The Group's diversified lending portfolio currently
focuses on three sectors (i) Business Finance through its Real
Estate Finance, Asset Finance and Commercial Finance divisions (ii)
Consumer Finance through its Motor Finance and Retail Finance
divisions and (iii) Consumer Mortgages.
As at 31 December 2017 the Group's loans and advances to
customers totalled GBP1,599 million, customer deposits totalled
GBP1,483 million and the Group's total customer base was
approaching one million.
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END
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