Riga, Latvia, 2016-09-29 10:21 CEST (GLOBE NEWSWIRE) -- ABLV Bank offers several innovations in products and services. They include new ABLV Bank bond issues, payments in euros free of charge and others.
New ABLV Bank bond issues
We continue ABLV Bank bond issue program launched in 2011. So far, 36 public bond issues for the total face value of EUR 1.1 billion were performed. In the coming October, we will also perform three new bond issues under the Sixth Bond Offer Programme, which will be admitted to the regulated market, i. e. listed on the Nasdaq Riga Baltic List of Debt Securities.
The parameters of the coming issues are the following:
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Coupon bond issue of USD 75,000,000
(issue name: ABLV FXD USD 311018; ISIN: LV0000802163)
The issue size is USD 75,000,000. The number of bonds is 75,000. The face value of one bond is USD 1,000. The annual interest rate is fixed: 1.85% with coupon payment twice a year. Initial placement price: 100% of the face value. The issue date is 31 October 2016, and the maturity date is 31 October 2018.
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Coupon bond issue of EUR 20,000,000
(issue name: ABLV FXD EUR 311018; ISIN: LV0000802171)
The issue size is EUR 20,000,000. The number of bonds is 20,000. The face value of one bond is EUR 1,000. The annual interest rate is fixed: 0.70% with coupon payment twice a year. Initial placement price: 100% of the face value. The issue date is 31 October 2016, and the maturity date is 31 October 2018.
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Discount bond issue of EUR 20,000,000 for raising subordinated capital
(issue name: ABLV SUB EUR 311026; ISIN: LV0000802189)
The issue size is EUR 20,000,000. The number of bonds is 200,000. The face value of one bond is EUR 100. Initial placement price: 83.047% of the face value. The issue date is 31 October 2016, and the maturity date is 31 October 2026. The bank may redeem the bonds before maturity starting from 31 October 2021.
Annual interest rate of subordinated bonds:
o from 31 October 2016 until 31 October 2021: fixed discount rate of 3.75%,
o from 1 November 2021 until 31 October 2026: fixed coupon rate of 3.75% with coupon payment twice a year.
The subscription to the bond issues will be started on 29 September 2016 and will last until 24 October 2016.
Euro payments free of charge
Upon improving the range of payment services, as of 1 October 2016, ABLV Bank is ready to offer for legal entities registered in Latvia and all individuals especially favourable conditions for making payments in euros. Further on, we will execute the following payments under EUR 1 000 free of charge, provided clients make them in the Internetbank:
- intrabank payments,
- outgoing standard and urgent payments within the European Economic Area.
More information about autumn news of ABLV Bank services is available at the bank's website.
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 86.55% 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; New Hanza City, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Vladivostok, Kiev, Odessa, Minsk, Almaty, Baku, Tashkent, Hong Kong, Limassol, and New York.
Ilmārs Jargans
Head of Public Relations Department
ABLV Bank, AS
Tel.: +371 6777 5296
e-mail: ilmars.jargans@ablv.com