Issue of Regulatory Capital

RNS Number : 6654C

Secure Trust Bank PLC

02 October 2018

 

PRESS RELEASE

Secure Trust Bank PLC

LEI: 213800CXIBLC2TMIGI76

02 October 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 a further issue of £25,000,000 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.

This issue of the Notes follows the first such issue by the Bank which closed on 17 July 2018. 

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: [phone]

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 831 employees (full-time equivalent) as at 30 June 2018. 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 30 June 2018 the Group's loans and advances to customers totalled £1,839.0 million, customer deposits totalled £1,645 million and the Group's total customer base was over one million.

 

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