Announcement View
Company Bigbank AS
Type Company Release
Category Other corporate action
Publicize date 27 May 2024 08:00:00 +0300
Kell English
Title 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,  24 May  2024. It was the second series under
Bigbank's  unsecured subordinated bond  programme, which was  conducted based on
the  base prospectus of subordinated bonds  programme. Under the programme it is
possible for Bigbank to raise up to 30 million euros in total.

In  the course of  the Offering, up  to 3,000 unsecured subordinated bonds, with
the  nominal  value  EUR 1,000  each,  the  maturity  date 29 May 2034 and fixed
interest  rate of 7% per  annum, payable quarterly,  were offered by Bigbank. In
case  of oversubscription, Bigbank had  the right to increase  the volume of the
Offering  by up to 7,000 bonds to the  total of up to 10,000 bonds. The Offering
was carried out in Estonia, Latvia and Lithuania.

929 investors participated in the subscription and submitted subscription orders
for  the subordinated bonds in the total amount of 9.0 million euros. Therefore,
the  base issue  volume of  3 million euros  was oversubscribed  by three times.
Bigbank  exercised its right to increase the volume of the Offering, as such the
total final volume of the Offering amounted to 7 million euros.

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

 1. All subscription orders from the same subscriber were summed up;
 2. Subscriptions by investors up to the amount of 30,000 euros were accepted in
 3. Employees of companies belonging to Bigbank group were allocated 100% of the
    amount subscribed;
 4. Investors were allocated 33% of the amount subscribed exceeding 30,000
 5. The number of bonds with decimal places was rounded to the closest whole

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. 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 about 29 May 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 about 30 May

Argo Kiltsmann
Member of the Management Board
Tel: +372 53 930 833