Bigbank launches public offering of subordinated bonds
Bigbank, an Estonian-owned commercial bank, is offering up to 15,000 ten-year subordinated bonds with a fixed 6.5% annual interest rate. The offering is part of a programme of up to €80 million.
Bigbank AS, a commercial bank owned by Estonian capital, has launched a public offering of unsecured subordinated bonds in the Baltic states. The bonds mature in ten years and carry a fixed annual interest rate of 6.5%. The bank's management says the aim is to strengthen its regulatory capital structure and support further growth.
Bond terms
Bigbank is offering up to 15,000 bonds named "EUR 6,50 BIGBANK SUBORDINATED BOND 26-2036". Each bond has a nominal value and offer price of €1,000, and the maturity date is 26 November 2036. If demand exceeds the offering, the bank may raise the number of bonds to 25,000. It also reserves the right to cancel the offering for any portion that is not subscribed. The offering is part of a programme not exceeding €80 million.
Interest accrues from 26 November 2026 using the 30/360 method and is paid quarterly, on 15 March, 15 June, 15 September and 15 December. The first payment is due on 15 March 2027. The bonds will be registered under ISIN code EE0000005510, and the bank plans to apply for their admission to the Baltic bond list of the Nasdaq Tallinn exchange.
In allocation, Bigbank reserves the right, but not the obligation, to give priority to clients who have a current account in their own name at the bank on 18 November 2026. Where mathematically possible, each private investor will be allocated at least two bonds with a total nominal value of €2,000. Further details are set out in the prospectus.
Bank figures
Bigbank management board chairman Martin Länts said the loan portfolio reached €3.3 billion at the end of the third quarter, up 27% over a year. The business loan portfolio grew 16% in the quarter to €1.4 billion, and the housing loan portfolio grew 5% to €933 million. Current account balances rose 59% to €110 million. Net profit for the quarter was €12.6 million, 10% more than a year earlier.
The bank operates in nine countries, has more than 222,000 active clients and more than 700 employees. Total assets on 30 September were €4.0 billion and equity was €321 million. Moody's has assigned the bank a long-term deposit rating of "Ba1".
