Newsroom|Nasdaq welcomes Bigbank to Baltic Bond List

Nasdaq welcomes Bigbank to Baltic Bond List

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, September 22, 2022 – Nasdaq (NDAQ) announces that bonds issued by Bigbank have been listed on the Nasdaq Baltic Bond List by Nasdaq Tallinn as of today.

The size of Bigbank issue of unsecured subordinated bonds is EUR 20 million. Each bond has a nominal value of EUR 1,000. They have a fixed annual coupon rate of 8% with quarterly payments. The bonds mature on September 21, 2032.

The listing of the Bigbank bonds follows their public offering to Estonian, Latvian and Lithuanian investors. Based on demand for the bonds of EUR 22.8 million, the base amount of the offering – EUR 10 million – was oversubscribed by more than 2 times. A total of 1,610 investors subscribed to the bonds.

“It’s great to see more and more Estonian companies tapping into the public market to finance their growth and thus provide new investment opportunities for the Baltic investors,” said Kaarel Ots, CEO of Nasdaq Tallinn. “By attracting more than 1,600 investors and having the offer two times oversubscribed, Bigbank can be assured the investors’ appetite for their securities is big.”

The chairman of the management board of Bigbank, Martin Länts, thanked all the investors who participated in the public offer for their trust in the company. "The first public offering was a strong start for Bigbank's bond program for a total of 35 million euros. We plan to continue the program next year if the market conditions are favorable," Länts noted. "The 20 million euros of capital raised from the issue will help us grow in the field of home loans and corporate financing in Estonia, Latvia and Lithuania. We want to offer tough competition to the big universal banks in the Baltics in these sectors and grow our operating volumes and market share profitably," commented Martin Länts.

Bigbank is an Estonian bank specialized in loans. The bank’s head office is located in Estonia and representations in 9 countries across Europe. Bigbank operates in Estonia, Latvia, Lithuania, Finland, Sweden and Bulgaria, and provides cross-border services in Germany, Austria and the Netherlands.

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Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com.