Balti Investeeringute Grupi Pank AS (BIG) issued 4-year maturity bonds in the amount of 42,75 million Euros (668,9 million kroons) in the course of this private placement.

Annual yield of the bonds with quarterly coupons is 3 month Euribor + 750 bps per annum. BIG can redeemed the bonds early.

The current issue is a first tranch of a bond programme with total volume up to 100 million Euros. Timing, volume and conditions of further tranches will be decided upon based on market conditions and actual financing need in the second half of the year.

The issued bonds are registered in Sweden, VPC register*. BIG will apply for listing of the bonds at the SOX List at the Stockholm Stock Exchange.

The proceeds of the issue will be used for expanding BIG's activities in Estonia and Latvia.

The bond issue was arranged by E. Öhman J:or Fondkommission AB and was mainly subscribed by Danish, Finnish, Swedish and US institutional investors.

„BIG's growth during recent years has been remarkable and financing these growth rates on domestic market only is not possible. In spite of the negative publicity regarding the macro economical environment in the Baltics and we have succeeded to carry out a significant size bond issue, in Estonian context.  That shows a strong belief in the future development of the company. Taking into account the size of the issue, investor base, the status of financial markets and lack of issuer's rating, the yield of the bonds is optimal for all participants" said Targo Raus, the CEO.

Additional information:

Targo Raus
Chairman of the Board
Phone +372 735 0923

* VPC - Swedish Central Depository, www.vpc.se)
** SOX - Stockholm Bond Exchange