AS Inbank is issuing Additional Tier 1 bonds (AT1 bonds) through a private placement in April 2024.
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 12 April to 19 April 2024. Inbank will offer 200 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 10% 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 financial technology company with an EU banking license that connects merchants, consumers and financial institutions on its next generation embedded finance platform. Partnering with 5,400 merchants, Inbank has 892,000 active contracts and collects deposits across 8 European markets. Inbank Tier2 bonds are listed on the Nasdaq Tallinn Stock Exchange.
Additional information:
Marko Varik
CFO
marko.varik@inbank.ee
+372 5690 0286
