Under the issue in USD, code: ABLV SUB USD 180323, there were 200 000 bonds issued. The face value of one bond is USD 100. Initial placement price: 80.0510% of the face value. The issue date is 18 March 2013, and the maturity date is 18 March 2023. In five years, the bank may perform premature redemption of the bonds.
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Annual interest rate of subordinated bonds:
from 18 March 2013 till 18 March 2018 – fixed discount rate of 4.5% calculated twice a year, without coupon payment;
from 19 March 2018 till 18 March 2023 – fixed coupon rate of 6.0% with coupon payment twice a year.
The demand for the bonds considerably exceeded the offer, and thus applications of most investors were satisfied partly. The bonds were purchased by 36 customers of the bank. Investments in bonds allow customers to receive higher return than that under deposits and also ensure wider purchase and sale transaction opportunities.
Like previous bond issues, this one will be also included in NASDAQ OMX Riga list of debt securities in order to begin public quotation of the bonds and make those available to investment funds and other professional investors.
"Having performed this bond issue, we completed the bank’s Second Bond Offer Programme. The programme size was LVL 150 million, and it was implemented in full. In total over the last year and a half we have already performed 12 public issues. We plan to approve another bond issue programme soon, under which we will perform public offering of bond issues amounting up to LVL 200 million," said Ernests Bernis, ABLV Bank Chief Executive Officer (CEO).
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