Results of the Offering of Unsecured Subordinated Bonds of Bigbank AS

The public offering of Bigbank AS ( Bigbank ) unsecured subordinated bonds ( the Offering ) ended on Friday, 18 October 2024. It was the third series under Bigbank's unsecured subordinated bond programme, conducted based on the base prospectus of the subordinated bond programme. Under the programme, Bigbank can raise up to 30 million euros in total.During the Offering, up to 3,000 unsecured subordinated bonds, each with a nominal value of EUR 1,000, a maturity date of 23 October 2034, and a...

Tartu, 21/10/2024 (informazione.it - comunicati stampa - economia)

The public offering of Bigbank AS ( ) unsecured subordinated bonds ( ) ended on Friday, 18 October 2024. It was the third series under Bigbank's unsecured subordinated bond programme, conducted based on the base prospectus of the subordinated bond programme. Under the programme, Bigbank can raise up to 30 million euros in total.

During the Offering, up to 3,000 unsecured subordinated bonds, each with a nominal value of EUR 1,000, a maturity date of 23 October 2034, and a fixed interest rate of 6.5% per annum, payable quarterly, were offered by Bigbank. In the event of oversubscription, Bigbank had the right to increase the volume of the Offering by up to 5,000 bonds, bringing the total to a maximum of 8,000 bonds. The Offering was carried out in Estonia, Latvia, and Lithuania.

789 investors participated in the subscription and submitted subscription orders for the subordinated bonds in the total amount of 8.7 million euros. Therefore, the base issue volume of 3 million euros was oversubscribed by nearly 3 times. Bigbank exercised its right to increase the volume of the Offering, bringing the total volume of the Offering to 5 million euros.

The Management Board of Bigbank decided to allocate the bonds according to the following principles:

Martin Länts, Chairman of the Management Board of Bigbank, thanked all investors who participated in the public issue for their trust in the bank's strategy and growth prospects. "The subscription results show that investor confidence in Bigbank's future plans remains very high, and the interest rate on the bonds offered may have been slightly too high, considering the rapid developments in the interest rate environment over the past month. With the capital raised, Bigbank will be even stronger in implementing its business strategy, planning to continue growing primarily in the housing and corporate loan segments while ensuring compliance with established capital requirements," commented Martin Länts.

The Bonds are expected to be transferred to the securities accounts of investors on or around 23 October 2024 and the first trading day of the bonds on the Baltic Bonds List of Nasdaq Tallinn Stock Exchange is expected to be on or around 24 October 2024.

Argo Kiltsmann
Member of the Management Board
Tel: +372 53 930 833
Email:  Argo.Kiltsmann@bigbank.ee  
www.bigbank.ee