By Mary-Katherine Stinson
Lexington, Ky., Feb. 13 – Bigbank AS issued €15 million 8% subordinated bonds due Feb. 16, 2033, identified as EUR 8 Bigbank subordinated bond 23-2032, according to a press release.
The bonds have a nominal value of €1,000 each.
The public offering ended on Feb. 10 and was carried out only in Estonia, Latvia and Lithuania.
The bank intended to offer only up to 5,000 bonds but the offer was oversubscribed by more than five times, with 1887 investors submitting subscription orders totaling €26.9 million.
Therefore, the bank exercised its right to increase the issue by up to 10,000 bonds.
The bonds are expected to begin trading on the Baltic bonds list of Nasdaq Tallinn Stock Exchange on or about Feb. 17.
This was the second series under Bigbank’s unsecured subordinated bond program.
The bank is based in Tallinn, Estonia.
| Issuer: | Bigbank AS
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| Amount: | €15 million
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| Issue: | Subordinated bonds
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| Maturity: | Feb. 16, 2033
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| Coupon: | 8%
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| Settlement date: | Feb. 16
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| Trading date: | Feb. 17
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