By Susanna Moon
Chicago, Oct. 27 – AS LHV Group said it issued €25,697,000 of 6˝% 10-year subordinated bonds in the oversubscribed public offering.
LHV Group allocated bonds to all investors who subscribed up to the €10,000 amount in full, and subscribers who went over that amount were allocated 45.8% of the sum exceeding €10,000, according to a company press release.
Of the 935 subscribers, 68% received the subscribed bonds and 32% received less than the subscribed amount, the release noted.
LHV said it will use proceeds to support the growth of its business volume.
As announced Oct. 5, LHV offered to issue up to 10,000 subordinated bonds at par of €1,000 each with an over-allotment option for up to 15,000 subordinated bonds.
The subscription period ended Oct. 26.
The transfer of the subordinated bonds to investors’ securities accounts will occur on Oct. 29 and listing of the bonds for trading had been set for Nov. 2.
LHV Group is a holding company that through its subsidiaries offers banking, security brokerage, financial advisory, and finance leasing and other lending services. The company is based in Tallinn, Estonia.
| Issuer: | AS LHV Group
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| Issue: | Subordinated bonds
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| Amount: | €25,697,000
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| Maturity: | Oct. 29, 2025
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| Coupon: | 6˝%
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| Price: | Par
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| Announcement date: | Oct. 5
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| Settlement date: | Oct. 29
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