Results of the Public Offering of BluOr Bank 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.