BluOr Bank AS public offering of subordinated bonds
Interest rate 7% per annum, maturity term 7 years
20 years of experience
Since 2001, our team has grown from 39 to 214 employees.
We began as a banking enterprise working with businesses in the Baltic States. We now offer our services to clients all over Europe.
100% Latvian bank
The shareholders of BluOr Bank AS are Latvian entrepreneurs.
In 2021, the bank was included in the top five systemically important banks in Latvia.
Subscription period for the public offering of bonds:
from May 16, 2022 (at 10:00) to May 27, 2022 (till 15:30)
Public offering of subordinated bonds in the amount of EUR 7,000,000 issued by BluOr Bank AS
Issue name | EUR BLUOR BANK 7.00 SUBORDINATED BONDS 22-2029 |
Trading | NASDAQ Riga, Baltic debt securities list (regulated market) |
Status | Unsecured subordinated bonds |
ISIN | LV0000802569 |
Nominal value | EUR 1`000 |
Number of bonds offered | up to 7,000 |
Total issue size | up to EUR 7`000`000 |
Subscription period | from 16.05.2022 10:00 to 27.05.2022 15:30 |
Interest rate per annum | 7.00% |
Maturity date | 01.06.2029 |
Base prospectus | |
Final terms | |
Summary of the prospectus | |
Financial statements | |
Presentation | |
Webinar | |
Issue name
EUR BLUOR BANK 7.00 SUBORDINATED BONDS 22-2029
Trading
NASDAQ Riga, Baltic debt securities list (regulated market)
Status
Unsecured subordinated bonds
ISIN
LV0000802569
Nominal value
EUR 1`000
Number of bonds offered
up to 7,000
Total issue size
up to EUR 7`000`000
Subscription period
from 16.05.2022 10:00 to 27.05.2022 15:30
Interest rate per annum
7.00%
Maturity date
01.06.2029
Base prospectus
Final terms
Summary of the prospectus
Financial statements
Presentation
Placement plan
May 16, 10:00
Subscription period begins
May 27, 15:30
Subscription period ends
by June 1
Information about the subscription results
June 1
Settlement date
June 2
Plan to start trading bonds on Nasdaq Riga AS
June 1, 2029
Bond redemption
BluOr Bank subordinated bonds
ISSUE SIZE
As part of the program, BluOr Bank plans to issue the first 7-year issue of unsecured subordinated bonds in the amount of up to 7 million euros. The bank has the right to increase and decrease the amount of the tranche.
The total amount of the BluOr Bank AS subordinated bonds program at face value is up to 15 million euros.
INTEREST RATE
BluOr Bank AS bonds have a fixed interest rate per annum. Interest is paid once every three months.
DENOMINATION
The nominal value of BluOr Bank AS subordinated bonds is EUR 1,000.
BONDS ARE SUBORDINATED
Subordinated bonds are securities that give their owner the right to demand from the bank a predetermined interest income and repayment of the principal amount at maturity.
BluOr Bank subordinated bonds are a complex financial instrument and not suitable for all investors.
Subordinated bonds are a form of the bank’s capital, and the investor has no right to demand their repayment before the maturity of the bonds. Upon the liquidation or insolvency of the Bank, all the claims arising out of the subordinated bonds shall be satisfied only after the full satisfaction of all unsubordinated recognized claims against the Bank, but before the bank’s shareholders.
MATURITY
The first tranche of BluOr Bank AS subordinated bonds has a maturity of 7 years and a maturity date of June 1, 2029.
TRADING ON THE STOCK EXCHANGE
BluOr Bank plans to submit an application to list and admit to trading the Bonds on Nasdaq Riga Baltic Bond List.
Immediately after the start of trading on Nasdaq Riga subordinated bonds will be free to buy and sell on the regulated market.
Frequently Asked Questions
What is a bond?
A bond is a debt security on which the issuer undertakes to pay interest (coupon) and to pay the full value of the bond (redeem the bond) to the bondholder at a specified, later date, which is called the maturity date.
Who can participate in the placement of bonds?
Bonds are offered to all individuals and legal entities (institutional and private investors) in Latvia, Lithuania, Estonia.
Additional bonds are offered to investors located in the member states of the European Economic Area.
The following persons may not participate in the offer are Russian or Belarusian nationals or natural person residing in Russia or Belarus. The latter shall not apply to nationals of a Member States of the European Union or natural persons holding a temporary or permanent residence permit in a Member State of the European Union. The Offering is also not addressed to Investors who are a legal person, entity or body established in Russia or Belarus.What is a base prospectus?
The issue prospectus is a document containing detailed information about the issuer and the securities issued by it.
If the issuer wishes to make a public offer of securities, the issuer shall prepare a prospectus for the issue, which is approved by the Financial and Capital Market Commission (FCMC).
The purpose of the issue prospectus is to provide investors with information about the issuer, to assist in a reasonable assessment of the company’s financial performance, development strategy, risk factors and other considerations that should be taken into account before investing in the company’s bonds.
What is the minimum amount of bonds to be purchased?
The minimum investment amount is EUR 1,000
How can I subscribe to BluOr Bank AS bonds?
An investor wishing to purchase BluOr Bank bonds must submit a Bond Subscription Order at any time during the subscription period. A Subscription order can be submitted:
i) to the bank, which is a member of the Nasdaq Riga stock exchange and has access to the Genium INET bond trading system. The list of financial institutions which are members of the Nasdaq Riga is available on the exchange webpage.
ii) through its bank in Estonia, which is a member of the NASDAQ CSD depository with access to the Latvian securities settlement system. The investor must have a securities account opened with one of such banks. The list of financial institutions which are members of the Nasdaq CSD is available on the webpage.
iii) directly to BluOr Bank AS Brokerage Department. The investor must have a securities account opened with BluOr Bank.
iv) directly to one of the sales managers – Redgate Capital AS (Estonia), Signet Bank AS (Latvia), Evernord UAB FMI (Lithuania)
In which market are the BluOr Bank bonds planned to be quoted?
BluOr Bank bonds are scheduled to be included in Nasdaq Riga Baltic debt securities list.
What is a Securities Account or Financial Instruments Account?
An account with a bank or investment brokerage company where securities belonging to the investor are registered and stored.
What are my rights if I become a bondholder?
The owner of the bond has the right to receive interest and the principal amount at maturity.
Base prospectus
The base prospectus is prepared in accordance with the European Commission Prospectus Regulation (EU) 2017/1129 and published on the website of the Financial and Capital Market Commission and on the website of BluOr Bank.
Before investing in bonds, please read the Base Prospectus of the issue, Summary, Final Terms, and the documents attached to the prospectus.
For further information: investor@bluorbank.lv