Notice on Public Offering of Subordinated Bonds of Bigbank

Bigbank AS (registry code 10183757, address Riia tn 2, Tartu, 51004) (Bigbank) hereby announces a public offering of its unsecured subordinated bonds (Offering). The Offering is conducted on the basis of the prospectus drawn up by Bigbank and registered by the Estonian Financial Supervision and Resolution Authority (FSA) on 13 November 2023, that has been disclosed on the date of this announcement on the web pages of Bigbank and the FSA (Prospectus).

During the Offering bonds are offered that form the first series in the Bigbank unsecured subordinated bond programme (Programme). Under the Offering Bigbank plans to raise up to 3 million euros with the option of increasing the amount up to 10 million euros. Under the Programme it is possible for Bigbank to raise up to 30 million euros in total.

Main terms of the Offering

During the Offering, Bigbank offers up to 3,000 unsecured subordinated bonds “EUR 8.00 BIGBANK ALLUTATUD VÕLAKIRI 23-2033” with the nominal value of 1,000 euros per bond and maturity date on 30 November 2033. Bigbank shall pay interest on the bonds quarterly at a fixed rate of 8.00% per annum. In case of oversubscription Bigbank is entitled to increase the amount of bonds offered by 7,000 bonds up to 10,000 bonds in total. Bigbank is also entitled to cancel the Offering in the volume not subscribed. Unsecured subordinated bonds are offered with the price of 1,000 euros per one bond. The unsecured subordinated bonds are registered in the Estonian Register of Securities operated by Nasdaq CSD Estonian Branch (Nasdaq CSD) under ISIN code EE3300003706.

The subscription period for the bonds starts on 14 November 2023 at 10:00 and will end on 24 November 2023 at 15:30. The Offering will be targeted to retail and qualified investors in Estonia, Latvia, and Lithuania. The public offering of the unsecured subordinated bonds will be carried out only in Estonia, Latvia, and Lithuania and not in any other jurisdiction. Additionally, Bigbank may offer the bonds non-publicly in all the member states of the European Economic Area in accordance with exemptions provided for in Article 1(4) of Regulation (EU) 2017/1129.

A subordinated bond represents an unsecured debt obligation of Bigbank before the investor. The subordination of the bonds means that upon the liquidation or bankruptcy of Bigbank, all the claims arising from the subordinated bonds shall fall due and shall be satisfied only after the full satisfaction of all unsubordinated recognised claims in accordance with the applicable law. Among other things, with subordinated bonds, the risk of write down or conversion of liabilities and claim rights (bail-in risk) must be considered.

Specific details of the Offering are provided in the Prospectus and the Prospectus summary.

The indicative timetable of the Offering is the following:

Subscription period starts	14 November 2023 at 10:00
Subscription period ends	24 November 2023 at 15:30
Announcement of the Offering results	On or about 27 November 2023
Settlement of the Offering	On or about 30 November 2023
First trading day	On or about 1 December 2023

Submitting subscription undertakings

To subscribe for the bonds during the Offering, an investor must have a securities account with a Nasdaq CSD account operator or a financial institution who is a member of the Nasdaq Riga or Nasdaq Vilnius Stock Exchange.

An Estonian investor wishing to subscribe for the bonds should contact the securities account operator that operates their securities account and submit the subscription undertaking during the offering period.

A Latvian or Lithuanian investor wishing to subscribe for the bonds should contact the relevant financial institution and submit the subscription undertaking in the format and manner prescribed by the financial institution and in accordance with the terms of the Prospectus.

By submitting the subscription undertaking, an investor authorises the account operator or the relevant financial institution who operates the investor’s current account connected to its securities account to immediately block the whole transaction amount on the investor’s current account until the settlement is completed or funds are released in accordance with the terms set out in the Prospectus.

Listing and admission to trading of unsecured subordinated bonds of Bigbank

Bigbank shall submit an application to Nasdaq Tallinn AS for listing and admission to trading of all the bonds that may be from time to time issued under the Programme on the Baltic Bond List of the Nasdaq Tallinn Stock Exchange. The expected date of listing and admission to trading is on or about 1 December 2023.

While every effort will be made and due care will be taken to ensure the listing and the admission to trading of the unsecured subordinated bonds, Bigbank cannot ensure that the unsecured subordinated bonds will be listed and admitted to trading.

Availability of the documentation of the Offering

The Prospectus together with the bond terms and final terms and the summary of the Prospectus have been published and can be obtained in electronic format from Bigbank’s website https://investor.bigbank.eu and the website of the FSA https://www.fi.ee. In addition to the above, the translations of the summary of the Prospectus into Estonian, Latvian, and Lithuanian can be obtained in electronic format from Bigbank’s website https://investor.bigbank.eu.

Before investing into Bigbank’s unsecured subordinated bonds we ask you to acquaint yourself with the Prospectus, its summary as well as the bond terms and the final terms of the bonds in full and if necessary, consult with an expert.

Argo Kiltsmann
Member of the Management Board
Tel: +372 53 930 833
e-mail: Argo.Kiltsmann@bigbank.ee
www.bigbank.ee

Important information

This notice is an advertisement for securities within the meaning of the Regulation No 2017/1129/EU of 14 June 2017 of the European Parliament and of the Council European Parliament and does not constitute an offer to sell subordinated bonds or an invitation to subscribe to subordinated bonds. Each investor should make any decision to invest in the bonds only on the basis of the information contained in the Prospectus, its summary, the terms of the bonds and the final terms of the bonds. The approval of the Prospectus by the Financial Supervision Authority is not considered to be a recommendation for Bigbank’s subordinated bonds.

The information contained in this notice is not intended to be published, distributed or transmitted, in whole or in part, directly or indirectly, in any country or under any circumstance where publication, sharing or transmission would be unlawful or to any persons to whom the competent authorities have applied financial sanctions. Bigbank’s unsecured subordinated bonds will be publicly offered only in Estonia, Latvia and Lithuania and the sale or offer of the bonds shall not take place in any jurisdiction where such offer, invitation or sale would be unlawful without the exception or qualification of law or to any persons to whom the competent authorities have applied financial sanctions. The unsecured subordinated bonds are offered solely based on the Prospectus, its summary, bond terms and final terms and the Offering is intended only for the persons to whom the Prospectus is directed at. The present notice is not reviewed or confirmed by any supervisory authority, and it does not constitute a prospectus.

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Notice on Public Offering of Subordinated Bonds of Bigbank AS

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