Underwriting to ABLV Bank, AS bonds issued under the Second Bond Offer Programme has been completed. The investors were offered subordinated bonds in EUR and USD with maturity term of 10 years.
The bank has already performed four issues of subordinated bonds earlier. Since the bank’s customers demonstrate great interest in fixed-income investments, it was decided to perform new issues for the sake of raising funds for subordinated capital increase.
ABLV Bank, AS Board approved final results of the performed issues 10-year subordinated bonds in EUR, ABLV SUB EUR 250622, with total amount of EUR 5 million (discount rate 4.5%, no coupon payment) and 10-year bonds in USD, ABLV SUB USD 270622, with total amount of USD 20 million (rate 4.5% with coupon payment twice a year).
The bonds were offered to the ABLV Group’s customers and employees, and as a result 90 of them acquired the bonds.
The bank will submit an application to the stock exchange for listing the issued bonds in NASDAQ OMX Riga list of debt securities, and public quotations of the bonds will be available after the stock exchange board decides on admitting the bonds to the regulated market. Therefore, higher liquidity of these financial instruments will be ensured, as well as their availability to investment funds, insurance companies and other professional investors.
“We are satisfied with high demand for bonds. The newly issued bonds were placed in full within two weeks. This evidences customers’ trust and high loyalty to our bank.” ABLV Bank Chief Executive Officer (CEO) Ernests Bernis concluded.
ABLV Bank 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 Capital Markets, IBAS; ABLV Asset Management, IPAS; ABLV Transform Partnership, 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, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, and Tashkent.