Redenomination of Bond Issues

Riga, Latvia, September 25, 2018, 11:54 / Banking

In accordance with the decision of the Liquidation Committee made on 20 August 2018, on 25 September 2018 the initial currency, the USD, of the bonds issued by ABLV Bank, AS in liquidation, namely, ABLV FXD USD 030719 (ISIN: LV0000802270), ABLV FXD USD 271019 (ISIN: LV0000802320) and ABLV SUB USD 171127 (ISIN: LV0000802361), shall be redenominated to EUR.

The said bonds were issued under the Seventh Bond Offer Programme and according to the Base Prospectus of the issue the Company is entitled to carry out such amendments to the bond issues. The currency of other bonds issued by the company in USD shall not be changed – it will remain in USD.

Upon redenomination of bonds, there shall be the rate of the European Central Bank (ECB) of applied as at 24 September 2018, namely, 1,1773 USD for one euro. After the redenomination, the bond issues shall have the following numbers:

Issue series

ISIN

Currency

Issue size

Face value

ABLV FXD RD EUR 030719

LV0000880060
(previously LV0000802270)

EUR

61 043 829.80

849.40

ABLV FXD RD EUR 271019

LV0000880052
(previously LV0000802320)

EUR

59 453 753.00

849.40

ABLV SUB RD EUR 171127

LV0000880045
(previously LV0000802361)

EUR

33 976 000.00

84.94

The conversion of the bond issue currency is carried out for successful fulfilment of liabilities to the creditors in accordance with the approved voluntary liquidation plan. The company continues managing the risks attributable to its operation, including the currency risk.

As reported earlier, on 12 June 2018 the accumulation of coupon to the straight bonds issued by the company was suspended, thus the redenomination of the currency of the abovementioned bond issues to EUR applies also to the accounted, but not disbursed coupons.