Market announcement
Coop Pank AS
LEI code
549300EHNXQVOI120S55
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Industry sector(s)
Credit institution
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
16965
Submission date and time
17.02.2025 09:00:33
Content of announcement in Estonian
Title
Moody´s andis Coop Panga pandivõlakirjadele esialgse reitingu (P)Aa2
Message
Moody's Investors Service on kinnitanud Coop Pank AS-i (Coop Pank) poolt välja antavate hüpoteekpandikirjade esialgseks pikaajaliseks reitinguks (P)Aa2. Rahvusvaheline reitinguagentuur Moody’s on esialgse reitingu väljastamisel analüüsinud Coop Panga plaanitavat pandikirjaemissiooni, võtnud arvesse muu hulgas tagatiseks seatavate hüpoteeklaenude head krediidikvaliteeti, emitendi tegevust ja järelevalvet puudutavat Eesti õiguslikku raamistikku, aga ka tururiske ja tänase majanduskeskkonna määramatust. Pikaajaline reiting (P)Aa2 tähistab kõrgekvaliteedilisi kohustusi, mille krediidirisk on madal. Coop Panga finantsjuhi Paavo Truu sõnul on reitingu saamine pandivõlakirjadele oluline samm, et saaksime plaanipäraselt jätkata emissiooni ettevalmistusega ja kuigi emissiooni lõplik aeg sõltub ka turuolukorrast, soovime pandivõlakirjad välja anda juba 2025. aasta esimesel poolaastal. Paavo Truu sõnul annavad pandikirjad Coop Pangale võimaluse finantseerimist veelgi mitmekesistada ja kulusid vähendada. Pandikirju on Coop Pangal plaanis pakkuda Euroopa institutsionaalsetele investoritele. Pandikirjad annavad Coop Pangale võimaluse kaasata välist rahastust ka keerulisematel aegadel. Eesti kapitalil põhinev Coop Pank on üks viiest Eestis tegutsevast universaalpangast. Pangal on 209 500 igapäevapanganduse klienti. Coop Pank kasutab jaekaubanduse ja panganduse vahel tekkivat sünergiat ning toob igapäevased pangateenused kodule lähemale. Panga strateegiline omanik on kodumaine kaubanduskett Coop Eesti, mille müügivõrgustikku kuulub 320 kauplust. Lisainfo: Paavo Truu Finantsjuht Telefon: +372 5160 231 E-post: [email protected]
Content of announcement in English
Title
Moody's assigned Coop Pank mortgage covered bonds a provisional rating of (P)Aa2
Message
Moody's Investors Service has assigned a provisional (P)Aa2 long-term rating to the mortgage covered bonds issued by Coop Pank AS (Coop Pank). The international credit ratings agency Moody’s has analysed the planned issue of covered bonds by Coop Pank and considered, inter alia, the high credit quality of the assets backing the covered bonds, the support provided by the Estonian legal framework, which provides for the issuer's regulation and supervision, but also exposure to market risks and the increased uncertainty of the current economic environment. The long-term rating (P)Aa2 indicates high quality obligations that are subject to low credit risk. According to Paavo Truu, CFO of Coop Pank, obtaining a credit rating is an important step to continue the preparations for the bond issue as planned and although the final date is subject to the market situation, we plan to issue the covered bonds in the first half of 2025. According to Paavo Truu the covered bonds offer an opportunity to further diversify funding and reduce costs. Coop Pank is planning to offer covered bonds to European institutional investors. Covered bonds are expected to provide a new resilient source of funding for Coop Pank. Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking reached 209,500. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 320 stores. Additional information: Paavo Truu CFO Phone: +372 5160 231 E-mail: [email protected]