Tallinn/Riga/Vilnius, Nasdaq Baltic Market, October 3, 2016 – Nasdaq (Nasdaq: NDAQ) announces that the bonds issued by Inbank were listed on Nasdaq Baltic Bond List by Nasdaq Tallinn as of today, October 3, 2016.
The total size of the listed subordinated bond issue was EUR 6.503 million. The nominal value of one bond is EUR 1000. The annual interest rate of the bonds is 7% which is paid out quarterly. The bonds will mature on September 28, 2026. The listing followed the public offering of the subordinated bonds that took place from September 13 to September 26.
“Inbank is a great example of an ambitious Estonian company that has decided to finance its growth with the money raised via capital market,” said Kaarel Ots, the Chairman of the Management Board of Nasdaq Tallinn. “It’s also a symbolic fact that the last time we had the securities of two banks listed on Nasdaq Tallinn Stock Exchange was 14 years ago . ”
“Becoming a company whose securities are listed on Nasdaq Baltic Bond List helps Inbank to become even more open and significantly increase our investors’ base,” said Priit Põldoja, the Chairman of the Council of Inbank. “We are growing rapidly and expanding from a local company to an international one. We need the investments to strengthen our capital base and support our development plans. Inbank’s bond issue was oversubscribed by 2.2 times which shows that the appetite for new investment opportunities from investors’ side is big.”
Inbank is an Estonian bank that grew out of the financial technology company Cofi (est. in 2011), which launched an innovative hire-purchase solution. During the period of 2011-2015, Cofi became the market leader in offering hire-purchase services. Today Inbank and its affiliated undertakings have over 150,000 active customer contracts.
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Media Relations Contact: Audronė Ranonytė +370 5 253 1475 audrone.ranonyte@nasdaq.com
