Oma Savings Bank Plc Launches EUR 50 Million Senior Bond
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Oma Savings Bank Plc Issues EUR 50 Million Unsecured Bond
Oma Savings Bank Plc has announced the issuance of an unsecured senior-term bond valued at EUR 50 million. This bond issuance is an integral part of the bank's larger bond program designed to bolster its financial stability and offer attractive investment opportunities.
Details of the Bond Issuance
The bond has a maturity date set for 27 February 2026 and is categorized as a zero-coupon bond, which means that it will not pay periodic interest but will be issued at a significant discount to its face value. The bond has been assigned the ISIN code FI4000577960, ensuring ease of identification for potential investors.
Regulatory Approval and Program Overview
Oma Savings Bank’s bond issuance is being conducted under its extensive EUR 3,000,000,000 bond program. This program has received full approval from the Finnish Financial Supervisory Authority (FIN-FSA), which sanctioned the base prospectus on 27 March 2024. Subsequent supplements were approved on 24 May 2024 and 14 August 2024, providing further details about the offerings.
Trading and Management
In line with its strategy, OmaSp intends to apply for the inclusion of the covered bond in public trading on the Nasdaq Helsinki Ltd stock exchange, thereby enhancing its visibility and liquidity in the market. This initiative is crucial for attracting a wider range of investors and ensuring a successful bond sale.
Roles of Key Participants
The issuance will be managed by a consortium led by Danske Bank A/S, who acts as the Sole Lead Manager, while SFI Markets serves as the Dealer and Placing Agent. Legal counsel for this transaction is provided by Borenius Attorneys Ltd, ensuring that all regulatory aspects are adhered to throughout the issuance process.
Oma Savings Bank: An Overview
Oma Savings Bank Plc, commonly referred to as OmaSp, is recognized as a solvent and profitable banking institution in Finland. The bank employs approximately 500 professionals who deliver a broad spectrum of services to over 200,000 private and corporate clientele via 45 branches and various digital platforms.
Commitment to Customer Service
OmaSp's operational focus lies in retail banking, providing customers with an array of banking solutions delivered directly from its balance sheet and through partnerships. The bank offers products that include credit options, investment services, and various insurances.
Elevating Customer Experience
The essence of OmaSp's operational philosophy is centered on personal service and proximity to customers, delivering exceptional customer experience across both digital and physical channels. The bank is dedicated to continually evolving its services based on customer needs and feedback.
Supporting Employee Development
OmaSp is not just committed to its customer base, but also invests significantly in the development of its personnel. The bank advocates for career growth through diverse tasks and ongoing professional development opportunities. A notable point is that many employees are shareholders, fostering a deeper investment in the bank's success and customer satisfaction.
Contact Information
For further details regarding this bond issuance or the bank's operations, please contact:
Sarianna Liiri, CEO
Phone: +358 40 835 6712
Email: sarianna.liiri@omasp.fi
Frequently Asked Questions
What type of bond has Oma Savings Bank issued?
Oma Savings Bank has issued an unsecured senior-term zero-coupon bond valued at EUR 50 million.
What is the maturity date of the bond?
The bond is set to mature on 27 February 2026.
Who approved the bond issuance?
The bond issuance has been approved by the Finnish Financial Supervisory Authority (FIN-FSA).
How will the bond be managed?
The bond issuance will be managed by Danske Bank A/S as Sole Lead Manager and SFI Markets as the Dealer and Placing Agent.
What services does Oma Savings Bank provide?
Oma Savings Bank offers a range of retail banking services, including credit options, investment solutions, and mortgage banking operations.
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