On Friday, 19 May 2023, the subscription period for AS Inbank Additional Tier 1 bonds (AT1 bonds) ended. Investors subscribed to bonds worth 11.1 million euros, meaning that the volume of the issue was oversubscribed by 1.9 times

Since the initial volume of the issue of 6 million euros was oversubscribed, Inbank exercised the right to increase the volume of the issue to 11.1 million euros. On Monday, 22 May 2023, Inbank’s Management Board approved the final distribution of the issue, according to which 1110 bonds with a nominal value of 10,000 euros will be distributed to a total of 55 investors.

Marko Varik, CFO and Member of the Management Board of Inbank, comments on the results:

‘Investors' interest in Inbank's AT1 bonds was higher than expected, and we decided to increase the volume of the issue. The initial offering was nearly twice oversubscribed showing confidence in Inbank's business model and growth plans. Also, by raising additional capital, we successfully fulfilled the goal of strengthening Inbank's own funds position and covering the applicable capital requirements.’

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 872,000+ active contracts and collects deposits across 8 European markets. Inbank Tier 2 bonds are listed on the Nasdaq Tallinn Stock Exchange.