Issue of Debt

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 £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.  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: [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 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 £1,599 million, customer deposits totalled £1,483 million and the Group's total customer base was approaching one million.

 

END

 

 

IODSFDFDWFASEDW