Another ABLV Bank bond issue in USD completed

Riga, Latvia, October 15, 2012, 17:17 / Investments

Subscription to another bond issue in USD performed by ABLV Bank, AS under the Second Bond Offer Programme has been completed. The issue size is USD 25 million.

The total number of bonds under this issue, code: ABLV FXY USD 151013, is 25 000. The face value of a bond is USD 1 000. The annual interest rate is fixed: 1.15% with coupon payment twice a year. The issue maturity date is 15 October 2013.

The bank will submit an application to the stock exchange for including the bonds of this issue in NASDAQ OMX Riga list of debt securities in order to begin public quotation of the bonds. Admission of the bonds to the regulated market will make these financial instruments available to investment funds, insurance companies and other professional investors.

This bond issue is a continuation of gradually substituting long-term deposits with investments in bonds that we initiated at the end of the last year. Investments in bonds allow customers to receive higher income than that under deposits. Bonds also ensure wider transaction opportunities for customers — those can be purchased, sold or used as collateral to obtain financing, meanwhile retaining the investment amount and planned yield.

We would like to remind that subscription to another two issues performed under the bank’s Second Bond Offer Programme is currently going on: these are the bond issue in EUR (code: ABLV FXD EUR 051114, issue size: EUR 15 million) and the bond issue in USD (code: ABLV FXD USD 061114, issue size: USD 50 million).

Under the First Bond Offer Programme, there were 3 issues performed in 2011, and their face value amounted to EUR 25 million and USD 30 million. Whereas under the Second Bond Offer Programme there are 4 issues performed in 2012, their face value being EUR 5 million and USD 95 million.

ABLV Bank is the largest independent private bank in Latvia. The bank’s majority shareholders — Oļegs Fiļs, Ernests Bernis and Nika Berne – directly and indirectly hold 86% of the bank's share capital. ABLV Group includes ABLV Bank, AS; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; New Hanza City, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Yekaterinburg, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, and Tashkent.

Ilmārs Jargans
Head of Public Relations Department
+371 6777 5296