Nova Ljubljanska Banka (NLB) has repurchased €296 million worth of bonds, Bloomberg reports. The state-backed bonds were repurchased to lower costs and improve the bank’s capital ahead of European Union stress tests.
The Slovenian lender had sought to buy back €500 million of the €1.5 billion in three-year securities maturing in July 2012. NLB repurchased the securities to adjust operative and structural liquidity and reduce its financing costs.
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