The CTT announced in a statement issued to the Comissão do Mercado de Valores Mobiliários (CMVM) that “Banco CTT S.A. has successfully completed a senior preferred debt issuance amounting to 45 million euros with a three-year maturity,” effective today.
The issuance offers a “call option at the end of the second year with an issue price of 99.824% and an annual coupon of 3.75% until the option exercise date. Subsequently, it will be remunerated quarterly at the three-month Euribor rate plus a margin of 170 basis points.”
The settlement of this operation is scheduled for November 17, 2025.
CTT indicated that the “senior preferred debt issuance was fully subscribed by over 20 institutional investors, achieving demand twice the amount offered.”
International investors accounted for over 40% of the demand, CTT stated, with allocations distributed as follows: 51% to asset managers, 31% to insurance companies, and 18% to banks.
The announcement noted that this issuance is “aligned with the previously disclosed objective of financing the MREL requirements [which compel banks to maintain an adequate level of own funds and eligible liabilities to absorb losses and recapitalize in case of insolvency] set for June 2026, enabling Banco CTT to support the growth of its business.”
According to CTT, “the pro forma MREL-RW ratio as of September 2025, including this senior preferred debt issuance, is 27.9%,” which “represents a comfortable level against the future minimum requirement of 24.7% (including a CBR – Combined Buffer Requirement of 3.25%) that will come into effect from June 2026.”
The statement reads that “this first senior preferred debt issuance in the capital markets by Banco CTT demonstrates institutional investors’ recognition of the financial position, risk profile, and strategy of Banco CTT.”
