A public offering of bonds by the online trading provider, Admiral Markets AS, will commence on 8 December 2017. The issue’s volume will be €5m, as announced by the fintech company in the public offering and listing prospectus, which was registered by the Estonian Financial Supervision Authority and disclosed earlier today.
“Admiral Markets AS is aiming for fast growth and to further increase its business volumes. This bond issuance will ensure the long-term sustainability of the activities of Admiral Markets AS, by expanding the company’s total capital base. As a fintech company, one of our objectives is to continue to provide state-of-the-art trading platforms for our client base and remain a technologically advanced online trading company”, said Sergei Bogatenkov, Member of the Management Board of Admiral Markets AS.
The public offering of unsecured subordinated bonds is arranged by Admiral Markets AS and the subscription period runs from 8 to 19 December, 2017. The issue is targeted both to institutional and retail investors in the Baltics.
In total 50,000 bonds will be issued for a price of €100 per bond, and have an interest rate of 8% per annum. The maturity date of the bonds is 28 December 2027, on which the issuer shall redeem all the bonds. The minimum amount of bonds the investor is able to subscribe to is 1. The unsecured subordinated bonds are offered for subscription by way of a public offering to retail as well as institutional investors.
To submit a purchase offer in Estonia, the investor must have a securities account opened with the Estonian Central Securities Depository through most commercial banks, which act as custodians in the central depository. To submit a purchase offer in Latvia and in Lithuania, the investor must submit a purchase offer via the respective market’s exchange members.
Admiral Markets AS will apply for the listing of bonds in the Baltic Bond List of Nasdaq Tallinn.
The issue of bonds was advised by law firm TGS Baltic as the legal advisers.
For further information about the bond issue please visit the dedicated webpage: admiral.ee.
For additional information:
Admiral Markets AS
Please note that the announcement should not be considered as investment advice, consultancy or other ancillary service. Before making the investment decision, Admiral Markets AS recommends you to consult with experts.