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]

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.