Riga, Latvia, 2015-09-18 13:49 CEST (GLOBE NEWSWIRE) -- Starting from September this year, ABLV Bank offers several new products and services. They include commodity trade finance, new bond issues and other innovations.
New bond issues
Continuing the issuing of the bank’s bonds launched in 2011, in October this year ABLV Bank will perform three new bond issues under the Fifth Bond Offer Programme, and these issues will be admitted to regulated market — Baltic list of debt securities of Nasdaq Riga stock exchange.
The subscription to the bond issues starts on 17 September 2015 and will last till 19 October 2015. The parameters of the issues are stated below.
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Coupon bond issue of USD 75 000 000
(issue name: ABLV FXD USD 261017; ISIN: LV0000801850)
The issue size is USD 75 000 000. The number of bonds is 75 000. The face value of one bond is USD 1 000. The annual interest rate is fixed: 1.65% with coupon payment twice a year. Initial placement price: 100% of the face value. The issue date is 26 October 2015, and the maturity date is 26 October 2017.
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Coupon bond issue of EUR 20 000 000
(issue name: ABLV FXD EUR 261017; ISIN: LV0000801868)
The issue size is EUR 20 000 000. The number of bonds is 20 000. The face value of one bond is EUR 1 000. The annual interest rate is fixed: 0.80% with coupon payment twice a year. Initial placement price: 100% of the face value. The issue date is 26 October 2015, and the maturity date is 26 October 2017.
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Discount bond issue of EUR 20 000 000 for the sake of raising subordinated capital
(issue name: ABLV SUB EUR 261025; ISIN: LV0000801835)
The issue size is EUR 20 000 000. The number of bonds is 200 000. The face value of one bond is EUR 100. Initial placement price: 83.047% of the face value. The issue date is 26 October 2015, and the maturity date is 26 October 2025. The bank may redeem the bonds before maturity starting from 26 October 2020.
Annual interest rate of subordinated bonds:
- from 26 October 2015 till 26 October 2020 — fixed discount rate of 3.75%;
- from 27 October 2020 till 26 October 2025 — fixed coupon rate of 3.75% with coupon payment twice a year.
Trade finance
ABLV Bank offer new financing service — transactional trade finance for commodities traded on stock exchange and over the counter. This service will be interesting for traders who have successful experience of trading in highly liquid raw materials.
ABLV Bank offers transactional trade finance for such commodities as energy raw materials (crude oil, oil products, coal, gas), chemicals (methanol, benzene, mineral fertilizers, etc.), and different metals. These commodities should be moved from Baltic or CIS states to any place in the world.
Within this service, ABLV Bank is ready to provide financing of the whole transaction cycle — from prepayment to the supplier to receivable financing after the delivery. The maximum loan amount can be up to EUR 20 million.
More information about autumn news of ABLV Bank products is available at the bank's home page.
Ilmārs Jargans
Head of Public Relations Department
ABLV Bank, AS
Tel.: +371 6777 5296
e-mail: ilmars.jargans@ablv.com