Successful Issue of ABLV Bank Subordinated Bonds

Riga, Latvia, November 17, 2017, 09:15 / Investments / Inside information

Under the Seventh Bond Issue Programme, ABLV Bank, AS has performed a new issue of subordinated discount bonds of its total size amounting to USD 40 million at face value.

During the initial placement, the bonds were acquired by 16 investors. The bonds are planned to be included in the regulated market — Baltic bond list of Nasdaq Riga — on 21 November 2017.

Parameters of the issues:
Discount bond issue of USD 40 000 000 for the sake of raising subordinated capital
(issue name: ABLV SUB USD 171127; ISIN: LV0000802361)

Issue size: USD 40 000 000. Number of bonds: 400 000. The face value of one bond is USD 100. Initial placement price is 81.0362% of the face value. The issue date is 17 November 2017, and the maturity date is 17 November 2027. The bank may redeem these bonds before maturity starting from 17 November 2022. Annual interest rate of subordinated bonds:

  • from 17 November 2017 until 17 November 2022 — fixed discount rate of: 4.25%;
  • from 18 November 2022 until 17 November 2027 — fixed coupon rate of 4.25% with coupon payment twice a year.

The Bank’s public bond issue programme was started in 2011, and, under it, we have already executed 47 public bond issues, their total size amounting to EUR 1.45 billion at face value.

This announcement contains inside information.

ABLV Bank, AS is the largest independent private bank in Latvia. The bank’s major shareholders Oļegs Fiļs, Ernests Bernis and Nika Berne directly and indirectly hold 87.03% of the bank's voting share capital. ABLV Group includes ABLV Bank, AS; ABLV Bank Luxembourg, S.A.; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; Pillar Development, SIA, and other companies. ABLV Consulting Services has representative offices in Moscow, St. Petersburg, Vladivostok, Kiev, Odessa, Minsk, Almaty, Baku, Tashkent, Hong Kong, and Limassol.