Clifford Chance advises NLB on its €300 million Additional Tier 1 (AT1) bond issuance

Global law firm Clifford Chance has advised Nova Ljubljanska banka d.d., Ljubljana (NLB) on its €300 million Undated Non-Cumulative Fixed Rate Additional Tier 1 Notes issuance carrying a coupon of 6.500% p.a. The bond was admitted to trading on the regulated market of the Luxembourg Stock Exchange.

AT1 Notes are contingent convertible instruments designed to absorb losses and enhance a bank’s capital resilience during periods of financial stress. This issuance marks a significant milestone for NLB, with proceeds aimed at diversifying the bank’s capital base and further strengthening its capital and MREL position.

The Clifford Chance team was led by partner Cristina Freudenberger (Capital Markets, Frankfurt) and further comprised senior associate Maria de Elizalde (Capital Markets, Madrid) as well as transaction lawyers Lilli Neubauer and Felicitas Fischer (both Capital Markets, Frankfurt).