The Inbank bond offering opened on October 30, 2026, giving retail and institutional investors in Estonia the opportunity to subscribe to subordinated bonds paying 7% annual interest. The subscription period ends on November 9.

Key Takeaways

  • Inbank is offering 10,000 bonds with a nominal value of €1,000 each and may double the quantity if demand exceeds the initial offer.
  • The unsecured bonds mature on November 13, 2036, and rank behind unsubordinated claims in a liquidation or bankruptcy.

Inbank bond offering terms

The initial offering has a nominal value of €10 million. Inbank may add up to 10,000 bonds in the event of oversubscription, bringing the maximum nominal value to €20 million. Interest is fixed at 7% a year and paid quarterly.

The bonds are the second series under a programme that began in September 2025 and allows Inbank to issue up to €60 million over 40 months. The supervisor’s record of Inbank’s 2025 offering covers the earlier prospectus, not the terms of the new issue.

Subscription and trading plans

Subscriptions opened at 10 a.m. on October 30 and close at 3:30 p.m. on November 9. Investors must submit an undertaking through the custodian holding their securities account opened at Nasdaq CSD SE.

Settlement is scheduled for November 13. Inbank intends to apply for admission to the Nasdaq Tallinn Baltic Bond List, with trading expected to begin on or about November 16. Admission is not guaranteed.

Subordination and prospectus

The bonds are unsecured obligations. In a liquidation or bankruptcy, claims on them are satisfied only after recognized unsubordinated claims have been fully met, in accordance with applicable law.

The offering is based on a prospectus approved by Estonia’s financial supervisor on October 29, 2026, and the bonds’ final terms. Approval of the prospectus is not a recommendation to invest.

Next milestone

Inbank expects to disclose allocation results on or about November 11, 2026.

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