The transaction "supports Luminor’s growth strategy and enhances its liability structure," the bank said in a statement.
The bond, which is rated Aa1 by Moody’s, is listed on the Irish Stock Exchange and was issued under Luminor’s EMTN and Covered Bond program.
Palle Nordahl, Luminor Bank’s Chief Financial Officer, said:
"We are delighted to have issued our second benchmark covered bond, after our inaugural issue in March 2020. The significant support from investors demonstrates the solid standing of Luminor and positive outlook for the Baltic economies. The issue ensures we are well placed to support our clients and grow our business throughout our home markets of Estonia, Latvia and Lithuania."
Orders from investors in German-speaking Europe accounted for a little under one third of the total book, with further good demand from investors in the Nordic and Baltic regions, the bank said.
Luminor is the third-largest provider of financial services in the Baltic states.