Tallinn/Riga/Vilnius, Baltic Market, March 26, 2014 – The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces that as of March 28, 2014 the pawnshop operator SIA ExpressCredit (EXPC140018A) bonds in total value of EUR 4.750 million will be listed on the NASDAQ OMX Baltic Bond list by NASDAQ OMX Riga.
Latvian largest network of pawnshops SIA ExpressCredit that works with brand Lombards24.lv has completed bond issue, thereby attracting EUR 5 million for development of the company. Initial value of bond issue was EUR 5 million. Yearly interest rate of the coupon is 14% with a 5 year term and gradual repayment.
“We welcome ExpressCredit bond issue listing on the Baltic Bond list,” said Daiga Auziņa-Melalksne, Head of Exchange Services at NASDAQ OMX Baltic Market. “We look forward to the future development of the fixed income market in Baltic as we see growing customer interest and more companies choosing issuance of public bonds as an attractive capital raising opportunity.”
"A successful bond issue is a confirmation to the fact that we work transparently and openly, according to the best standards of corporate governance," said Agris Evertovskis, Chairman of the Board at SIA ExpressCredit.
SIA ExpressCredit owns the largest network of pawnshops in Latvia with 95 branches in 38 cities. The company issues loans against pledge of movable property (pawnshop loans), loans without collateral, loans against vehicle, as well as mortgage loans. The company averagely employs 277 employees. According to unaudited data of 2013, turnover of SIA ExpressCredit was 13.67 million euros, profit – 370 280 euros, but 1 987 980 euros were paid in taxes. The owners of SIA ExpressCredit are SIA Express Holdings (51%), SIA Ebility (24,5%) and SIA AE Consulting (24,5%). The company was registered in 2009.
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