Announcement of MREL eligible liabilities under article 62(5) of the ZRPPB-1
19th December 2022
Pursuant to the Rules of the Ljubljana Stock Exchange and Article 158 of the Market in Financial Instruments Act, relating to the Article 17 of the Regulation (EU) No 596/2014, NLB d.d., Trg republike 2, 1000 Ljubljana announces:
In accordance with the requirements of paragraph 5 of article 62. of Zakon o reševanju in prisilnem prenehanju bank (ZRPPB-1), NLB d.d. is hereby publishing the composition of the own funds and eligible liabilities items by which it meets the minimum requirement for own funds and eligible liabilities (MREL) applicable to the NLB Resolution Group.
| Data as of 30 November 2022 | in EUR | Maturity | Order of prioirity under normal insolvency proceedings |
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| 1. Equity |
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| 1.1 Common Equity Tier 1: |
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| 1,415,369,000 | Without maturity | Junior to all other liabilities. |
| 1.2 Additional Tier 1 Instruments: |
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| 82,000,000 | Notes are perpetual and have no scheduled maturity date. The Issuer has the possibility for early redemption of the notes on any business day from 23 September 2027 to 23 March 2028 and on 23 September each year commencing on 23 September 2028 | Senior to the Common Equity Tier 1 Instruments (point 1.1.) and junior to all other liabilities. |
| 1.3 Tier 2 Instruments: |
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| 45,000,000 | 6 May 2029, NLB d.d. has the option to redeem the notes on 6 May 2024 | Senior to the Common Equity Tier 1 Instruments (point 1.1) and any Additional Tier 1 Instrument (point 1.2), junior to all other liabilities. |
| 120,000,000 | 19 November 2029, NLB d.d. has the option to redeem the notes on 19 November 2024 | |
| 120,000,000 | 5 February 2030, NLB d.d. has the option to redeem the notes on 5 February 2025 | |
| 225,000,000 | 28 November 2032, NLB d.d. has the option to redeem the notes on 28 November 2027 | |
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| 2. Eligible liabilities | |||
| 2.1 Unsecured and unsubordinated claims arising from debt instruments: |
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| 300,000,000 | 19 July 2025; NLB d.d. has the option to redeem the notes on 19 July 2024 | Senior to the Tier 2 Instruments (point 1.3) and junior to all liabilities referred to in second paragraph of Article 230 of ZRPPB-1, points 1 to 7. |
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| 2.2 Other unsecured and unsubordinated claims: |
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| 30,000,000 | 30 March 2025; NLB d.d. has the option to repay the loan on 30 March 2024 | Senior to the Unsecured and unsubordinated claims arising from debt instruments (point 2.1) and junior to all liabilities referred to in second paragraph of Article 230 of ZRPPB-1, points 1 to 6.
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| 2.3 MREL eligible deposits (referred to in second paragraph, point 6): | Senior to the Other unsecured and unsubordinated claims (point 2.2) and junior to all liabilities referred to in second paragraph of Article 230 of ZRPPB-1, points 1 to 5.
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| 5,000,000 | 28 May 2024 | |
| 5,000,000 | 4 June 2024 | |
| 5,000,000 | 11 June 2024 | |
| 5,000,000 | 18 June 2024 | |
| 15,000,000 | 16 December 2024 | |
| 5,000,000 | 7 January 2025 | |
| 5,000,000 | 4 February 2025 | |
| 4,000,000 | 2 April 2025 | |
| 10,000,000 | 26 May 2025 | |
| 10,000,000 | 10 June 2025 | |
| 10,000,000 | 8 July 2025 | |
| 5,000,000 | 30 December 2025 | |
| 5,000,000 | 5 January 2026 | |
| 5,000,000 | 22 December 2026 | |
| 5,000,000 | 4 January 2027 | |
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| 2.4 MREL eligible deposits (referred to in second paragraph, point 5): |
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| MREL eligible deposit | 10,000,000 | 26 March 2024 | Senior to the MREL eligible deposits (reffered to in second paragraph, point 6) (point 2.3) and junior to all liabilities referred to in second paragraph of Article 230 of ZRPPB-1, points 1 to 4. |
| MREL eligible deposit | 20,000,000 | 29 July 2024 | |
| MREL eligible deposit | 30,000,000 | 2 April 2025 | |
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| Total amount of equity and eligible qualified liabilities |
2,496,369,000 |
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| The applicable minimum requirement of own funds and eligible liabilities expressed as a percentage of the entity's total exposure rate calculated in accordance with articles 429. and 429.a of the Regulation 575/2013/EU.
| As of 1 January 2024, NLB d.d. must comply with MREL requirement on a consolidated basis at resolution group level (consisting of NLB d.d. and other members of the NLB Group excluding banks) which amounts to 31.38% of Total Risk Exposure Amount (TREA) increased by applicable CBR; and 9.97% of the Leverage Ratio Exposure (LRE). NLB d.d. must provide a linear increase in capital and eligible liabilities towards MREL requirement and should therefore ensure its compliance with 25.19% of TREA increased by CBR (3.5%); and 8.03% of the LRE on 1 January 2022. The MREL requirement must be met at all times. |
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