Secure Trust Bank PLC Buyback of Tier 2 Bonds (4092T)

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: [phone]

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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March 17, 2023 09:58 ET (13:58 GMT)