Outcome of Subscription to LHV Group AT1 Bonds
The offering of additional Tier 1 temporary write-down notes (AT1 bonds) to financial institutions and well-informed investors with a larger investment portfolio ended on 25 November. As the initial issue volume of EUR 10 million was oversubscribed nearly more than 2.5 times by a total of 38 investors in the sum EUR 24.9 million, LHV Group used its right to increase the issue volume to EUR 20 million. The subscription orders exceeding the EUR 20 million volume were not satisfied.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. The Group employs more than 860 people. As at the end of October, LHV’s banking services are used by 369,000 clients, the pension funds managed by LHV have 130,000 active clients, and LHV Kindlustus protects a total of 150,000 clients. LHV’s UK branch offers banking infrastructure to 200 international financial services companies, via which LHV’s payment services reach clients around the world.
Phone: +372 502 0786