NLB Bank Repurchases $434 Million of Bonds to Lower Costs
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Nova Ljubljanska Banka d.d. repurchased 296 million euros ($424 million) worth of state-backed bonds as Slovenia’s biggest bank seeks to lower costs and improve its capital ahead of European Union stress tests.
The bank had sought to repurchase 500 million euros of the 1.5 billion euros in three-year securities maturing in July 2012, it said today in a statement to the stock market.