Estonian Government Bonds Are Now Listed on Nasdaq Baltic Market

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, September 17, 2024 - Nasdaq (NDAQ)
announces that bonds issued by the Republic of Estonia have been listed on the
Nasdaq Baltic Bond List by Nasdaq Tallinn as of today, September 17. 

The Republic of Estonia conducted a public bond offer for the first time aimed
specifically to the people of Estonia, providing retail investors with a fixed
interest rate and the opportunity to trade the bonds publicly on the local
stock exchange. 

Up to 2,000,000 bonds, with a total volume of EUR 200 million, were on offer
under the bond programme of the Republic of Estonia. The demand for the bonds
in the offering reached EUR 821 million, thus the volume of the issue was
oversubscribed by more than four times. A total of 28 professional and 7,304
retail investors participated in the public offering. Retail investors
subscribed for the bonds in the amount of EUR 29 million. 

The nominal value of one bond is EUR 100, and the yearly interest rate is fixed
at 3.3% with payments once a year. The bonds will mature on September 16, 2026. 

"The fact that the Republic of Estonia finally has bonds available for everyone
to buy and sell is a significant step for the Estonian securities market," said
Kaarel Ots, CEO of Nasdaq Tallinn and Nasdaq Baltic Stock Exchanges. "Firstly -
Government bonds are the lowest-risk securities. This means that now there is a
financial instrument on the Estonian securities market, which should be the
first security for every saver and beginning investor to acquire on their
investment journey. Secondly - The interest rate of a freely traded government
bond is a crucial indicator for investors, which gives an assessment of the
country's riskiness, its governance and security as an investment destination.
In short - we now have a real market economic evaluator of our country's
activities." 

Janno Luurmees, Head of the State Treasury Department of the Ministry of
Finance: "The start of trading in government bonds marks the successful arrival
of a new financial instrument on the Estonian market, which offers a low-risk
way to invest your savings. The multiple oversubscription of the offer has
created the prerequisites for a solid stock market debut, and now those who did
not buy the bonds during the offer or did not receive them based on the
allocation decision can buy the bonds." 

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Media Contacts:
Ott Raidla

Nasdaq Tallinn / Nasdaq Baltic Market
Marketing and Communications Manager
[e-mail]
[phone]