AS Inbank is issuing Additional Tier 1 bonds (AT1 bonds) through a private placement in May 2023.
Due to the complexity of AT1 bonds, they will not be offered publicly and the offer will be aimed only at selected investors. The purpose of raising capital is to strengthen the position of Inbank's own funds and cover the capital requirements applicable to Inbank.
The subscription of AT1 bonds will take place from 8 May to 19 May 2023. Inbank will offer 600 AT1 bonds with a nominal value of EUR 10,000. Inbank has the right to increase or decrease the volume of the issue. The interest rate is 12% per annum, which is paid quarterly. AT1 bonds are perpetual and unsecured debt obligations to investors. Upon obtaining permission from the Financial Supervision Authority, Inbank has the right to redeem AT1 bonds in part or in full after 5 years have passed from their issue. Inbank will announce the results of the offer with a separate notice.
Inbank is a consumer finance focused digital bank active in the Baltics, Poland, and the Czech Republic with additional deposits accepted in Germany, Austria, and the Netherlands. Inbank has over 5,400 active partners and 872,000 active contracts. Inbank Tier 2 bonds are listed on the Nasdaq Baltic Stock Exchange.
Additional information:
Marko Varik
CFO
marko.varik@inbank.ee
+372 5690 0286
