Notice on Public Offering of Subordinated Bonds of BluOr Bank AS
BluOr Bank AS announces the public offering of its first tranche of non-convertible unsecured and unguaranteed subordinated bonds ("Bonds") in the amount of up to EUR 10,000,000 (with the option to increase in the event of oversubscription, in accordance with the procedures outlined in the Prospectus.) under its EUR 30,000,000 Non-convertible Unsecured Subordinated Bond Program (“Program”). The offering will be made on the basis of the Base Prospectus ("Prospectus") approved by Latvijas Banka on 30 August 2024.
The Bonds will be available to both private and institutional investors in Latvia, Lithuania and Estonia.
The proceeds from the Bond issuance will be used to increase the BluOr bank’s capital, which will support lending activities and strengthen BluOr bank's market position thereby contributing to the growth of the national economy and supporting local businesses.
AS LHV Pank acts as an advisor and the joint lead manager for the issuance.
Main terms of the offering
The nominal value of each Bond is EUR 1,000 with a quarterly paid fixed interest rate of 10% per annum. The maturity of the Bonds is 10 years, however BluOr Bank AS has the right to redeem the Bonds early after receiving the approval of Latvias Banka. Bonds will be issued under ISIN code LV0000804060 at a price of EUR 1,000 per Bond and the Bonds are planned to be included in the Baltic debt securities list of the regulated market - "Nasdaq Riga"
Timetable of the offering
Start of the offer period – 9 September 2024 at 10.00 (EET)
End of the offer period– 27 September 2024 at 15.30 (EET)
Announcement of the results – 30 September 2024
Transfer of the Bonds to investors’ securities accounts – 2 October 2024
Expected listing on Nasdaq Riga- on or about 3 October 2024
Submitting subscription orders
Bond purchase orders shall be submitted to BluOr Bank AS or through the Nasdaq Riga trading system Genium INET, which is available to Nasdaq Riga members. Institutional investors from Latvia, Lithuania, and Estonia have the option to submit purchase orders to BluOr Bank AS and AS LHV Pank using the Bloomberg trading system or Genium INET. Investors who do not have access to these options can become clients of BluOr Bank AS investment services and purchase Bonds through BluOr Bank AS, or through other credit institutions, investment brokerage firms, or financial intermediaries that have access to the Genium INET system, or with whom BluOr Bank AS collaborates as counterparties. Investors related to the private placement of Bonds should contact BluOr Bank AS (tel.: +371 67 031 333; email: info@bluorbank.lv). Detailed information about purchase orders is available in the Final Terms.
Before making an investment decision, investors should read the Prospectus and Final Terms carefully and, if necessary, consult with their own professional advisors.
The Prospectus, the Final Terms and the specific summary of the Issue in English, Latvian, Estonian and Lithuanian will be available in electronic form on the website of the BluOr Bank AS https://www.bluorbank.lv/.
IMPORTANT INFORMATION. This announcement constitutes an advertisement of securities within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the "Prospectus Regulation"), and is not an offer to sell Bonds or an invitation to subscribe for Bonds. The offer to purchase Bonds is made solely on the basis of the Prospectus submitted to Latvijas Banka and the Final Terms which will be submitted to Latvijas Banka. The Prospectus is available on the Latvijas Banka website (https://uzraudziba.bank.lv/wp-content/uploads/2024/08/Base-Prospectus_2024.08.21-3.pdf) and BluOr Bank AS website (https://www.bluorbank.lv/) where Final Terms will be available as well. All investors should base their investment decisions solely on the information contained in the Prospectus, Final Terms, and any supplements (if any) published in relation to this offer. Before making any investment decision, investors must review the information contained in the Prospectus and Final Terms to understand all information related to the investment. The approval of the Prospectus by Latvijas Banka should not be construed as an endorsement of BluOr Bank AS or the securities offered. The Bonds will be publicly offered in the Republics of Latvia, Lithuania, and Estonia. The information provided in this announcement may be amended, supplemented, or changed without prior notice.
About BluOr Bank:
BluOr Bank AS is a privately owned commercial bank of Latvia. The Bank was established in 2001. BluOr Bank AS provides a full range of banking services: daily banking services for businesses and individuals, loans to small and medium-sized companies, asset management and brokerage services.
According to the Bank’s development strategy, the main business segment is corporate banking with a focus on small and medium-sized companies and corporate lending.
Additional information: https://www.bluorbank.lv
Aleksandrs Kņazevs
Compliance Control Department Lawyer
Tālr. +371 29187610
e-pasts: aleksandrs.knazevs@bluorbank.lv
Nataļja Fokina
Chief Financial Officer
Phone: +371 26424732
E-mail: natalja.fokina@bluorbank.lv
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