Oma Savings Bank Plc Issues EUR 50 Million Unsecured Bond
Oma Savings Bank Plc has revealed that it will issue an unsecured senior-term bond worth EUR 50 million. This issuance is a key component of the bank's broader bond program aimed at enhancing its financial stability while providing appealing investment opportunities.
Details of the Bond Issuance
The bond is set to mature on 27 February 2026 and is classified as a zero-coupon bond. This means it won't pay periodic interest but will instead be sold at a substantial discount to its face value. The bond is identified by the ISIN code FI4000577960, making it easy for potential investors to recognize.
Regulatory Approval and Program Overview
The bond issuance by Oma Savings Bank is part of its extensive EUR 3,000,000,000 bond program. This program has received complete approval from the Finnish Financial Supervisory Authority (FIN-FSA), which endorsed the base prospectus on 27 March 2024. Additional supplements were approved on 24 May 2024 and 14 August 2024, offering more insights into the offerings.
Trading and Management
As part of its strategy, OmaSp plans to seek inclusion of the covered bond in public trading on the Nasdaq Helsinki Ltd stock exchange. This move is essential for increasing its visibility and liquidity in the market, which will help attract a broader range of investors and facilitate a successful bond sale.
Roles of Key Participants
The bond issuance will be overseen by a consortium led by Danske Bank A/S, acting as the Sole Lead Manager, while SFI Markets will serve as the Dealer and Placing Agent. Borenius Attorneys Ltd will provide legal counsel for this transaction, ensuring compliance with all regulatory requirements throughout the issuance process.
Oma Savings Bank: An Overview
Oma Savings Bank Plc, often referred to as OmaSp, is a well-regarded and financially sound banking institution in Finland. The bank employs around 500 professionals who offer a wide range of services to over 200,000 private and corporate clients through 45 branches and various digital platforms.
Commitment to Customer Service
OmaSp focuses on retail banking, providing customers with a variety of banking solutions directly from its balance sheet and through partnerships. Their offerings include credit options, investment services, and various types of insurance.
Elevating Customer Experience
The core of OmaSp's operational philosophy is to emphasize personal service and maintain close relationships with customers, ensuring an exceptional experience across both digital and physical channels. The bank is committed to continually adapting its services based on customer feedback and needs.
Supporting Employee Development
OmaSp is dedicated not only to its customers but also to the growth of its employees. The bank promotes career development through diverse roles and ongoing professional training opportunities. Notably, many employees are shareholders, which fosters a greater investment in the bank's success and enhances customer satisfaction.
Contact Information
For more information about this bond issuance or the bank's operations, please reach out to:
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.
