Topics Topics

ABLV Bank to issue bonds worth €89m

Latvia's ABLV Bank plans to issue two-year bonds worth USD 75 million and two-year bonds worth EUR 20 million early next year, the bank said in a statement submitted to the Nasdaq Riga stock exchange, reported LETA newswire Thursday.

The bonds will be included in the Baltic Bond List of the Nasdaq Riga stock exchange.

Subscription to the above-mentioned bond issues will begin on January 4, 2016, and will last till February 15, 2016.

Under the Fifth Bond Offer Program, ABLV Bank will issue 75,000 coupon bonds with face value of USD 1,000 per bond. The annual interest rate is fixed at 1.85 percent with coupon payment twice a year. The issue date is February 22, 2016, and the maturity date is February 22, 2018.

ABLV Bank will also issue 20,000 coupon bonds with face value of EUR 1,000 per bond. The annual interest rate is fixed at 0.7 percent with coupon payment twice a year. The issue date is February 22, 2016, and the maturity date is February 22, 2018.

So far the bank has made 32 issues of public bonds, including those already redeemed.

ABLV Bank earned EUR 60.4 million in profit in the first three quarters of 2015, up 20.6 percent from the respective period in 2014.

The bank's revenues from its core business in the said period were EUR 102.6 million before provisions.

Its assets stood at EUR 4.65 billion on September 30, 2015.

The bank's loan portfolio was EUR 871.1 million, including corporate loans worth EUR 524 million.

ABLV Bank is the largest independent private bank in Latvia. The bank’s major shareholders - Olegs Fils, Ernests Bernis and Nika Berne - directly and indirectly hold 86.25 percent of the bank's voting share capital.

Seen a mistake?

Select text and press Ctrl+Enter to send a suggested correction to the editor

Select text and press Report a mistake to send a suggested correction to the editor

Related articles
Economy
Economy

Please be aware that the LSM portal uses cookies. By continuing to use this site, you agree that we may store and use cookies on your device. Find out more

Accept and continue