Tallinn/Riga/Vilnius, Nasdaq Baltic Market, April 1, 2021 – Nasdaq (Nasdaq: NDAQ) announces that the unsecured subordinated bonds issued by Coop Pank (short name: CPAB055031A) were listed on the Nasdaq Baltic Bond List by Nasdaq Tallinn as of today, April 1, 2021.
The total size of the unsecured and subordinated bond issue is EUR 10 million. The nominal value of one bond is EUR 1000, and the annual coupon rate is 5.5%. The bonds will mature on March 31, 2031.
The listing follows the public offering of Coop Pank bonds to retail and institutional investors. The offering was oversubscribed 6.2 times, and in total 2013 investors subscribed for the bonds.
„When Coop Pank made an IPO and listed its shares on the exchange in the end of 2019, about 11 000 Estonian people made an investment in the company. I’m happy to see that Coop Pank has been growing rapidly together with all those people and is now offering both their current and potential investors an opportunity to invest in the bonds of the bank,” said Kaarel Ots, CEO of Nasdaq Tallinn.
„Coop Pank has shown more than a 40% yearly growth rate over the last four years and our footprint is becoming more and more visible in the Estonian economy. We believe our brand awareness has been growing both among retail and business clients and this lays a good foundation for growing our market share,” said Margus Rink, CEO of Coop Pank. “We had a belief that the interest for the bonds will be high, but I have to admit I didn’t expect the offering will be six times oversubscribed. I’m sincerely thankful to see Coop Pank is being trusted and seen as a good investment opportunity.”
About Coop Pank
Based on Estonian capital, Coop Pank is one of the five universal banks operating in Estonia and its banking services are used by more than 90,900 clients. Coop Pank uses the synergies between retail and banking and brings everyday banking services closer to home. The strategic owner of the bank is the domestic retail chain Coop Eesti, whose sales network includes 330 stores.
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Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com.
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