Riga, Latvia, 2013-10-01 16:11 CEST (GLOBE NEWSWIRE) -- ABLV Bank, AS, performed premature redemption of two subordinated bond issues that took place in 2008. On 1 October 2013, the bonds in EUR (ISIN: LV0000800712) and USD (ISIN: LV0000800720) were redeemed at their face value.
The said subordinated bond issues were performed on 1 October 2008, and their size was EUR 12.5 million and USD 20 million of the face value. The bonds’ maturity term was set to be 10 years. According to the issue provisions the bank may completely redeem the bonds before maturity starting from 1 October 2013.
As we informed earlier, the bank initiated gradual replacement of long-term deposits with bonds at the end of 2011. During this time, we have performed already 16 public bond issues, which are included in NASDAQ OMX Riga list of debt securities. The investors own ABLV Bank, AS, bonds worth EUR 350 million in total.
ABLV Bank, AS, 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 Bank Luxembourg, S.A.; 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, Vladivostok, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, and Tashkent.
Ilmārs Jargans
Head of Public Relations Department
ABLV Bank, AS
Tel.: +371 6777 5296
e-mail: ilmars.jargans@ablv.com