Results of the Offering of Unsecured Subordinated Bonds of Bigbank AS

Core Viewpoint - Bigbank AS successfully completed its first public offering of unsecured subordinated bonds, raising a total of 6 million euros due to strong investor demand, reflecting confidence in the bank's growth strategy and future plans [1][3][4]. Group 1: Offering Details - The offering included up to 3,000 unsecured subordinated bonds with a nominal value of EUR 1,000 each, a maturity date of 27 June 2035, and a fixed interest rate of 6.5% per annum, payable quarterly [2]. - In case of oversubscription, Bigbank had the option to increase the offering volume by up to 5,000 bonds, potentially raising the total to 8,000 bonds [2]. - The offering was exclusively conducted in Estonia, Latvia, and Lithuania [2]. Group 2: Subscription Results - A total of 1,050 investors participated, submitting subscription orders amounting to 12.9 million euros, leading to an oversubscription of more than four times the base issue volume of 3 million euros [3]. - Bigbank decided to increase the final volume of the offering to 6 million euros due to the high demand [3]. Group 3: Management Commentary - Martin Länts, Chairman of the Management Board, expressed gratitude to investors, highlighting that the subscription results indicate strong confidence in Bigbank's future plans and the capital raised will support the bank's strategy in housing and corporate loan segments [4]. Group 4: Company Overview - Bigbank AS, with over 30 years of operating history, has total assets of 3.0 billion euros and equity of 278 million euros as of 31 May 2025 [6]. - The bank operates in nine countries, serving over 172,000 active customers and employing 600 people [6]. - Moody's has assigned Bigbank a long-term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2 [6]. Group 5: Bond Transfer and Trading - The bonds are expected to be transferred to investors' securities accounts on or about 27 June 2025, with the first trading day on the Baltic Bonds List of Nasdaq Tallinn Stock Exchange anticipated on or about 30 June 2025 [5].