ABLV Bank will redeem subordinated bond issue before maturity

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| Source: ABLV Bank, AS
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Riga, Latvia, 2017-05-15 07:59 CEST (GLOBE NEWSWIRE) -- ABLV Bank decided to perform premature redemption of the subordinated bond issue that took place in 2012. On 27 June 2017, the bond issue ABLV SUB USD 270622 (ISIN: LV0000800985) will be redeemed in full at the price of 100% of the face value.

The above mentioned subordinated bond issue was performed on 27 June 2012 under the Second Bond Offer Programme, and its size was USD 20 million at face value of the bonds. The bonds’ maturity term was set to be 10 years, coupon rate is fixed during first five years: 4.5% with payment twice a year. According to the issue provisions, the bank may completely redeem the bonds before maturity starting from 27 June 2017. These bonds are included in the Baltic Bond List of Nasdaq Riga.

The decision about the premature redemption of the subordinated bonds was taken as the bank’s capital adequacy ratio significantly exceeds the level provided by the regulator. The necessary admission required to perform the redemption of bonds has been received from the European Central Bank.

As we informed earlier, the bank initiated gradual replacement of long-term deposits with bonds at the end of 2011. Including the redeemed bonds, we have performed 41 public bond issues so far. Currently, 21 bond issues are included in the Baltic Bond List of Nasdaq Riga.

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 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; Pillar Development, 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