REG - Secure Trust BankPLC - New Tier 2 Issue Pricing and Buyback of securities

Secure Trust BankAnnouncement

22/02/2023 18:30

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RNS Number : 7668Q  Secure Trust Bank PLC  22 February 2023

PRESS RELEASE

Secure Trust Bank PLC

LEI: 213800CXIBLC2TMIGI76

 

 For immediate release  22 February 2023

SECURE TRUST BANK PLC ("STB")

Re: New Tier 2 Issue Pricing and Buyback of securities

STB, a leading specialist lender in the UK, announces that it has today priced
a new issue of £90,000,000 13.00 per cent. Fixed Rate Reset Callable
Subordinated Notes due 2033 (the "New Notes") with settlement expected to
occur on or about 28 February 2023. On settlement, the New Notes will be
listed on the International Securities Market of the London Stock Exchange.
This issuance is in line with the Group's funding strategy and supports the
Group's stated medium-term growth ambitions.

In addition, STB announces that it has today agreed, conditional on the
settlement of the New Notes, to buy back the entire aggregate principal amount
of its existing £25,000,000 6.75 per cent. Fixed Rate Reset Callable
Subordinated Notes due 2028 (ISIN: XS1881799834). The buyback is expected to
be completed on the same day as the settlement of the New Notes.

 

David McCreadie, Chief Executive Officer, said:

 

"We have demonstrated our capability to capture significant growth
opportunities across our diversified specialist lending businesses.  We are
pleased with the support we have received from existing and new holders for
our new Tier 2 issuance. With this enlarged regulatory capital base we are
strongly positioned to continue to help consumers and businesses fulfil their
ambitions."

 

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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