Secure Trust Bank PLC Buyback of Tier 2 Bonds (4092T)
March 17 2023 - 9:58AM
UK Regulatory
TIDMSTB
RNS Number : 4092T
Secure Trust Bank PLC
17 March 2023
PRESS RELEASE
Secure Trust Bank PLC
LEI: 213800CXIBLC2TMIGI76
For immediate release 17 March 2023
SECURE TRUST BANK PLC ("STB" or "the Group")
Buyback of Tier 2 bonds
STB, a leading specialist lender in the UK, announces that it
has agreed to buy back the entire aggregate principal amount of its
existing GBP25,000,000 6.75 per cent. Fixed Rate Reset Callable
Subordinated Notes due 2028 (ISIN: XS1854025415). The buyback is
expected to be completed on or around 20 March 2023. The buyback
follows the Group's recent successful issue of GBP90,000,000 of
Tier 2 bonds and supports the Group's stated medium-term growth
ambitions.
David McCreadie, Chief Executive Officer, said:
"We are pleased to have completed the bond refinancing and
expansion of our capital base. With our enlarged regulatory capital
base, we are strongly positioned to continue to help consumers and
businesses fulfil their ambitions and to scale our business."
Enquiries:
David McCreadie, Chief Executive Officer
Rachel Lawrence, Chief Financial Officer
Phil Clark, Investor Relations
Telephone number: +44 121 693 9100
About STB:
STB is an established, well--funded and capitalised UK retail
bank with a 70-year trading track record. STB operates principally
from its head office in Solihull, West Midlands, and had 833
employees (full--time equivalent) as at 31 December 2022. STB's
diversified lending portfolio currently focuses on two sectors:
(i) Business Finance through its Real Estate Finance and
Commercial Finance divisions; and
(ii) Consumer Finance through its Vehicle Finance and Retail Finance divisions.
STB is authorised in the UK by the Prudential Regulation
Authority and regulated by the Financial Conduct Authority and the
Prudential Regulation Authority.
Secure Trust Bank PLC, One Arleston Way, Solihull, B90 4LH.
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END
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