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CAP - Results of the Offering of the second series of Green Bonds of Liven AS

Company: Clevon AS Date: 2025-03-17 Language: English Register to download

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# 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.

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