Tallinn/Riga/Vilnius, Nasdaq Baltic Market, August 16, 2016 – Nasdaq (Nasdaq: NDAQ) announces that bonds of AgroCredit Latvia (short name: ACL), a non-bank lender, will be listed on the Nasdaq Baltic Bond List by Nasdaq Riga as of August 26, 2016.
AgroCredit Latvia is specialized in providing lending services for farmers. AgroCredit Latvia loans are intended for financing purchases of agricultural raw materials, including seeds, fertilizers, chemicals and fuel, and other current assets required for the farms. Since the beginning of operation in 2011, the company has provided services to several hundred farmers in Latvia. For more information, please visit: agrocredit.lv.
“Availability and cost of credit resources is one of the key development factors of AgroCredit Latvia,” said Ģirts Vinters, Chairman of the Board at SIA AgroCredit Lavia. “Public listing of the bonds grants the company more opportunities to attract the financing from private and institutional investors, as well as fostering reliability and transparency of the company.”
“We congratulate AgroCredit Latvia on its decision to list bonds on the stock exchange,” said Daiga Auziņa-Melalksne, Head of Exchange Services at Nasdaq Baltic and Head of Nasdaq Riga. “AgroCredit Latvia is yet another good example of non-bank financial intermediary leveraging a local marketplace as an effective capital raising solution. We are excited to see that the Baltic capital market serves as a springboard for company to set ambitious goals providing financial support to local Latvian farmers.”
The total nominal value of bonds issue is EUR 10 million. The nominal value of one bond is EUR 5000. The annual interest rate is 7%, interest payments will be made once per year. Maturity date of the bond issue is December 31, 2026.
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