ABLV Bank redeemed subordinated bond issue before maturity

Riga, Latvia, November 17, 2017, 14:16 / Investments

On November 17, 2017, ABLV Bank, AS performed premature redemption of the subordinated bond ABLV SUB EUR 250622 (ISIN LV0000800977) issued in 2012. The bond was redeemed at 100% of the face value, and at the same time last coupon payment under this bond was made. Coupon payment was transferred to clients’ cash accounts. At the moment of coupon payment, income tax was withheld by the bank in accordance with the Law on Enterprise Income Tax and the Law on Personal Income Tax.

The abovementioned subordinated bond issue was performed on June 25, 2012. Their respective amount was EUR 5 million at face value of the bonds. The term of the bond issue was 10 years, coupon rate is fixed during first five years: 6% with payment twice a year and it was included in the Nasdaq Riga list of debt securities. According to the issue provisions, the bank may completely redeem the bond before maturity starting from 25 June 2017.

As previously reported, at the end of 2011, ABLV Bank, AS started to substitute long-term deposits with bonds. So far, we have performed 47 public bond issues, including the redeemed bonds. Currently, 20 bond issues are included in the Nasdaq Riga list of debt securities.

More information about bonds can be found on our home page www.ablv.com.