Results of the Public Offering of BluOr Bank AS Subordinated Bonds
The public offering of the first tranche of BluOr Bank AS unsecured subordinated bonds ended on 27 May 2022.
In the course of the offering, up to 7,000 unsecured subordinated bonds of BluOr Bank with the nominal value of EUR 1,000, the maturity date of 1 June 2029 and fixed interest rate of 7% per annum were offered. In accordance with the terms of the offering, BluOr Bank had the right to increase or decrease the volume of the offering.
During the offering, more than 140 investors participated in the issue and subscribed for a total of 4,855 bonds for the total amount of EUR 4,855,000. The Management Board of BluOr Bank AS decided to approve the offering result. All subscriptions were fulfilled.
“Despite the fact that the demand for bonds was lower than planned, we are satisfied with the results of the offering, especially in such a challenging economic environment. We thank all the investors who participated. With this bond issue, we will strengthen the Bank’s capital base, which will allow us to further develop and ensure our business growth,” says Andrejs Kočetkovs, Head of Investment Department at BluOr Bank.
The settlement of the offering is due to take place on 1 June 2022.
The bonds are expected to be listed on the Baltic Bond List of Nasdaq Riga.
Attached: Final Terms of BluOr Bank bond issue.
About BluOr Bank:
BluOr Bank’s strategic priority is to finance and provide financial services to enterprises.
The Bank has been working with clients in the Baltic States for over 20 years and now provides its services across all of Europe. BluOr Bank is the sixth largest bank in Latvia and is one of the five systemically important Latvian banks.
BluOr Bank is a local capital bank, whose shareholders are its founders – Latvian entrepreneurs. The Bank’s mission is based on long-term partnership and provision of financial services to corporate clients, contributing to the development of their businesses and the growth of their companies.
For contacts:
Ingrīda Šmite
Head of Corporate Communication and marketing department BluOr Bank
Ph.: +371 67 034 257
pr@bluorbank.lv
ingrida.smite@bluorbank.lv
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