Chicago, Nov. 27 – Bigbank AS is expanding its public offer and will issue €5 million of 8% subordinated bonds due 2033, according to a press release.
Initially, the bank planned to sell €3 million of bonds but had the option to increase the issuance to €10 million. The bank has a subordinated bond program, which permits the issuance of up to €30 million in total.
The bank received €21.6 million of orders from 1,847 investors.
The principles governing allocation were that all subscription orders from the same subscriber were summed up, subscriptions up to €3,000 were accepted in full, bank employees were given their full allocations, 2.46% of the amount over €3,000 was allocated to investors and the number of bonds was rounded to the closest whole number.
The bank is based in Tallinn, Estonia.
| Issuer: | Bigbank AS
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| Amount: | €5 million
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| Issue: | Subordinated bonds
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| Maturity: | Nov. 30, 2033
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| Coupon: | 8%
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| Trade date: | Nov. 24
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| Settlement date: | Nov. 30
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| Distribution: | Public
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