| Project Detail |
Location:
Slovak Republic
Project number:
49322
Business sector:
Depository Credit (banks)
Notice type:
Private
English-language PSD published:
04 Dec 2024
Project Description
This PSD relates to a historical Bank project approved some years ago, and does not represent a new approval, or allocation of new funds. Disclosure of this PSD was deferred in accordance with the transparency framework in place at the time, but due to an administrative oversight, was not subsequently disclosed.
In July 2018, the Board of Directors approved investment of up to EUR 75 million in a series of mortgage covered bonds (“CBs”) to be issued by Slovenská sporitelna, a.s. (“SLSP” or the “Company”). The proceeds were be utilised to support residential mortgage lending of the bank.
Project Objectives
The transaction was intended to (i) developing the Slovak corporate bond market; (ii) supporting the diversification of medium-term funding sources of SLSP; and (iii) improving the maturity structure of the balance sheet by extending the tenor of liabilities to better match the maturity of the underlying assets. |
