Results of the Offering of the second series of Green Bonds of Liven AS
The public offering of Liven AS (hereinafter Liven) unsecured green bonds
(hereinafter the Offering) ended on Thursday, 13 March 2025. It was the second
series under Liven's unsecured bond programme, which was conducted on the basis
of the base prospectus approved by the Estonian Financial Supervision Authority
on 6 May 2024 and the prospectus supplement No 1, approved on 3 March 2025
In the course of the Offering, up to 4,000 unsecured bonds with the name of EUR
9.0% Liven green bond 25-2029, with a nominal value of 1,000 euros each, a
maturity date of 19 March 2029 and a fixed interest rate of 9.0% per annum,
payable quarterly (first interest payment will be made on 19 June 2025), were
offered by Liven. In case of oversubscription, Liven had the right to increase
the volume of the Offering by up to 3,000 bonds. The Offering was publicly
carried out only in Estonia and not in any other jurisdiction.
871 investors participated in the subscription and submitted subscription orders
for the bonds in the total amount of 8,301,000 euros. Therefore, the base issue
volume of 4 million euros was oversubscribed by 2.1 times. Liven's shareholders
submitted orders for more than 1.3 million euros, financial institutions for
more than 1.7 million euros and Liven's home buyers for more than 0.1 million
euros. The management board of Liven decided to exercise its right to increase
the volume of the Offering by up to 2,200 bonds, which increased the total
amount of the Offering to 6.2 million euros.
The Management Board of Liven decided to allocate the bonds according to the
following principles:
1. All subscription orders made by the same subscriber were summed up;
2. Any necessary rounding was done upwards;
3. Each subscriber was allocated at least 60% of the volume of their
subscriptions;
4. Employees, including their wholly-owned companies, were fully fulfilled;
5. At least 67% of each client's subscription orders were fulfilled, plus
additional fulfilment in worth of up to 10,000 euros;
6. At least 67% of subscription orders of each existing investors of the issuer
(including shareholders, lenders, investors participating in the 2024 public
bond offering and holders of green bonds issued in 2024 as at the end of
business on 5 March 2025) were fulfilled;
7. The 413,000 euros worth of bonds that were not allocated under the previous
principles were allocated within the institutional allocation proportionally
according to their outstanding orders.
Andero Laur, Chairman of Liven's management board, thanked all the investors who
participated in the public offer for their continued trust and Ellex Raidla law
firm the for their contribution as legal advisor of the public offer. "We are
really pleased with the subscription result exceeding the offered amount by more
than two times, and delighted for the continued trust by a large number of past
investors as well as a large number of new investors. It is also important for
us that we continue to be trusted by professional investors and financial
institutions." said Liven's CEO Andero Laur.
The Bonds are expected to be transferred to the securities accounts of investors
on or about 19 March 2025 and the first trading day of the bonds on the Baltic
Bonds List of Nasdaq Tallinn Stock Exchange is expected to be on or about
20 March 2025.
Joonas Joost
CFO
e-mail: [email protected] (mailto:[email protected])
https://liven.ee/
Important information
This notice is an advertisement for securities within the meaning of the
Regulation No 2017/1129/EU of 14 June 2017 of the European Parliament and of the
Council European Parliament and does not constitute an offer to sell or
invitation to subscribe to bonds of Liven.
The information contained in this notice is not intended to be published,
distributed or transmitted, in whole or in part, directly or indirectly, in the
United States, Canada, Hong Kong, Japan, Singapore, South Africa, or in any
other country or under any circumstance where publication, sharing or
transmission would be unlawful. bonds of Liven will be publicly offered only in
Estonia and the sale or offer of the bonds shall not take place in any
jurisdiction where such offer, invitation or sale would be unlawful without the
exception or qualification of law.