Coop Pank AS updates its EMTN programme

Coop Pank AS has updated its European Medium Term Note and Covered Bond Programme, increasing the programme limit to EUR 1.5 billion and adding senior notes and subordinated notes alongside covered bonds.

Coop Pank AS (the Bank) established a EUR 750 million covered bond programme in 2025, with the base prospectus for the programme (the Prospectus) approved by the Central Bank of Ireland on 19 February 2025. On 17 September 2026, the Central Bank of Ireland approved an update to the Prospectus, which includes significant changes compared with the previous version. The updated Prospectus will be made available on the website of Euronext Dublin at www.ise.ie and on the Bank’s website at https://www.cooppank.ee/en/investor.

As part of the programme update, the maximum aggregate nominal amount of notes that may be issued under the programme has been increased from EUR 750 million to EUR 1.5 billion. New instruments have also been added to the programme, enabling the Bank to issue unsecured senior notes and Tier 2 subordinated notes in the international markets in addition to covered bonds.

The programme update, including the increase in the programme limit and the addition of new instruments, is a necessary prerequisite for any future issuances. A separate decision will be made in respect of each new issuance. No decision has been made at this time to carry out any new issuance.

Comment by Paavo Truu, Chief Financial Officer of Coop Pank:

“In 2025, Coop Pank took an important step by issuing bonds in the international markets for the first time. Our covered bonds are now traded on the market and have been assigned the highest possible Aaa rating by Moody’s Ratings. With this step, we are creating the capacity to issue unsecured senior notes in the international markets and to raise subordinated capital,” said Truu.

Further information:
Paavo Truu
Chief Financial Officer
Phone: +372 5160 231
E-mail: paavo.truu@cooppank.ee

Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The Bank has 239,100 everyday banking customers. Coop Pank leverages the synergy between retail and banking and brings everyday banking services closer to home. The Bank’s strategic owner is the domestic retail chain Coop Eesti, whose sales network comprises more than 330 stores.