Tallinn/Riga/Vilnius, Nasdaq Baltic Market, October 6, 2015 – Nasdaq (Nasdaq: NDAQ) announces that subordinated bonds issued by LHV Group in 2014 were listed on the Baltic Bond List by Nasdaq Tallinn as of October 5, 2015. At the same time, LHV Group announced public offering of new, retail-oriented subordinated bonds that will be listed in the beginning of November 2015, provided the offering is successful and listing conditions are met.
The existing subordinated bonds were issued in June 2014 and will mature on June 20, 2024. The size of the bond issue is EUR 15.9 million. The bonds have a nominal value of EUR 50,000 and carry an annual interest rate of 7.25% which is paid out quarterly.
LHV Group is the largest domestic financial group and capital provider in Estonia that is currently holding 1.7 billion euros of Estonian assets. LHV Group's key subsidiaries are AS LHV Pank and AS LHV Varahaldus. Read more: www.lhv.en
“We are glad to see that one of the most devoted enthusiasts of promoting the development of the Estonian capital market, LHV Group, has entered the public securities market,” said Rauno Klettenberg, Head of Nasdaq Tallinn.
"Becoming a public company has been part of our long-term plan, and bond listing is an important step for us to take prior to listing the shares of LHV Group on the stock exchange," said Erkki Raasuke, the Managing Director of LHV Group. "LHV Group is offering bonds to everyone, and first and foremost to the Estonian retail investors. We want to provide a unique and high-quality opportunity to every Estonian investor to get part of LHV's growth story."
The subscription period for the new subordinated bonds of LHV Group started at 12 PM (EET) on October 5 and ends at 17 PM (EET) on October 26, 2015. The subscription price of the bond is EUR 1000 which equals the nominal value of the bond. The size of the offering is EUR 10 million, but LHV Group has the right to increase the offering size up to EUR 15 million in case of over-subscription. The annual interest rate of the bonds is 6.5% which is paid out quarterly. The bonds will mature on October 29, 2025.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,600 listed companies with a market value of approximately $9.6 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com
Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq OMX Copenhagen A/S, Nasdaq OMX Helsinki Ltd., Nasdaq OMX Iceland hf., Nasdaq OMX Riga, AS, Nasdaq OMX Stockholm AB, Nasdaq OMX Tallinn AS, AB Nasdaq OMX Vilnius, Nasdaq OMX Clearing AB, Nasdaq OMX Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic Market represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius. Read more: nasdaqbaltic.com
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
Media Relations Contact:
Audrone Ranonyte
+370 5 272 3458
audrone.ranonyte@nasdaq.com