Coop Pank announces the public offering of unsecured subordinated bonds

On 16th of March 2021, Coop Pank AS announced a public offering of Coop Pank’s unsecured subordinated bonds.

The subscription period for the bonds starts on 16 March 2021 and will end on 26 March 2021. The offering will be targeted to all retail and institutional investors in Estonia. Coop Pank offers publicly up to 8,000 unsecured subordinated bonds of Coop Pank EUR 5.5 Coop Pank bond 21-2031 with the nominal value of EUR 1,000 each.

Chairman of the Management Board of Coop Pank, Margus Rink said: “The purpose of the bond program is to finance Coop Pank’s future growth strategy. Over the last 4 years, Coop Pank has grown its operating volumes by about 40 percent a year, and our footprint in the Estonian economy is becoming more and more noticeable. We have so far covered the capital needs arising from growth through earned profits, subordinated bonds issued in 2017 and 2019, and an additional share issue and initial public offering (IPO) in 2019. The money raised in this bond issue is also planned to be used to support the growth of Coop Pank.”
Based on Estonian’s capital, Coop Pank is one in five universal banks operating in Estonia. Coop Pank’s banking services are used by more than 90,900 clients. The strategic owner of the bank is the domestic retail chain Coop Eesti, whose sales network includes 330 stores.
The public offering of Coop Pank AS subordinated bonds was advised by Ellex team in Estonia which was led by Partner Gerli Kivisoo and included Senior Associates Kadi Sink and Alla Kuznetsova and Associate Kevin Gerretz.
Find out more here.

Linked Experts

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Alla Kuznetsova

Senior Associate / Estonia
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Gerli Kivisoo

Partner / Estonia
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Kadi Sink

Senior Associate / Estonia
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Kevin Gerretz

Associate / Estonia