Coop Pank AS raises subordinated capital from the European Energy Efficiency Fund

Core Insights - Coop Pank AS has entered into an unsecured subordinated loan agreement with European Energy Efficiency Fund S.A. for 5 million euros, with an interest rate of 6 months' EURIBOR plus 3.25% per annum, repayable in one installment by 31 March 2034 [1] - The loan will be classified as a capital instrument included in the Bank's Tier 2 own funds [2] - The funds will be utilized to support the Bank's growth strategy, focusing on projects that promote energy efficiency or renewable energy production [3] Company Overview - Coop Pank, based in Estonia, is one of the five universal banks operating in the country, with a client base of 225,800 for daily banking services [4] - The strategic shareholder of Coop Pank is Coop Eesti, a domestic retail chain with 320 stores, aiming to enhance the synergy between retail and banking services [4]