Liven AS Surpasses Expectations with Green Bond Offering Results
Successful Green Bond Offering by Liven AS
Liven AS, a commendable player in the financial sector, has recently wrapped up its second series of unsecured green bonds, marking a notable milestone for the company. This specific offering generated significant interest among investors and demonstrated the rising enthusiasm for sustainable financial products.
Details of the Green Bond Offering
The Offering, which concluded recently, featured up to 4,000 unsecured bonds identified as EUR 9.0% Liven green bond 25-2029. Each bond has a nominal value of €1,000, a maturity date set for 19 March 2029, and a competitive fixed interest rate of 9.0% per annum, with interest payments scheduled on a quarterly basis. Notably, Liven retained the option to increase the Offering volume by an additional 3,000 bonds in case of oversubscription.
Investor Participation and Oversubscription
The engagement was impressive, with 871 investors submitting subscription orders totaling a staggering €8,301,000. Given that the base issue volume was €4 million, this level of investment indicates an oversubscription by an impressive 2.1 times, highlighting strong demand. Different groups of investors participated, including Liven's loyal shareholders, financial institutions, and home buyers, reflecting a broad base of support.
Allocation Principles for the Bonds
In the face of oversubscription, Liven's Management Board adopted a transparent and fair approach to bond allocation. Key principles included aggregating orders from the same subscriber, ensuring a minimum allocation of 60% for each subscriber, and fulfilling the orders of employees and existing investors adequately. Furthermore, extra measures were taken to ensure equitable distribution among institutional investors for any unallocated bonds.
CEO's Remarks on the Offering
Andero Laur, Liven's CEO, expressed gratitude towards all participating investors for their unwavering trust in the company. He stated, "We are truly pleased with the subscription results, which exceeded the offered amount by more than two times. This confidence from both new and returning investors is crucial for us moving forward, especially as we focus on enhancing our green initiatives."
Bonds Trading and Future Prospects
The newly issued bonds are expected to be transferred to investors' securities accounts around 19 March 2025, with the first trading day on Nasdaq Tallinn Stock Exchange anticipated shortly after. This progression not only reflects Liven's commitment to sustainable finance but also aims to foster ongoing investor interest in issuing green bonds.
Conclusion and Contact Information
For any inquiries regarding the Offering or investment opportunities with Liven AS, stakeholders are encouraged to reach out to the Chief Financial Officer, Joonas Joost, via email.
Email: joonas.joost@liven.ee
Frequently Asked Questions
What is the outcome of Liven AS's recent bond offering?
The bond offering saw a strong oversubscription, indicating robust investor interest and confidence in Liven AS and its green initiatives.
How many investors participated in the offering?
871 investors submitted orders totaling €8,301,000 during the bond offering, significantly surpassing the initial base volume of €4 million.
What are the key details regarding the green bonds?
The bonds have a nominal value of €1,000 each, an interest rate of 9.0% per annum, and a maturity date set for 19 March 2029.
How does Liven AS plan to allocate the oversubscribed bonds?
Liven AS implemented specific allocation principles to ensure fair distribution, including fulfilling a substantial portion of subscriptions and prioritizing existing investors.
What steps does Liven AS take towards sustainability?
The issuance of green bonds is part of Liven AS's broader commitment to sustainable finance, encouraging investments in projects that promote environmental stewardship.
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