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BAB: Baltikums Banka Redeems Its Bonds

Spekuliantai.lt | 2009-07-13 | NASDAQ OMX biržų naujienos | perskaitė: 1429
BAB: Baltikums Banka Redeems Its Bonds

Akciju komercbanka "Baltikums" Corporate Action 13.07.2009

Baltikums Banka Redeems Its Bonds

Baltikums Banka keeps gradually redeeming its public bonds from the financial
market on its own initiative. Therefore, the investors in the Bank's bonds are
able to sell the bonds of Baltikums Banka held by them at the current market
price before their maturity.

The Bank's interest in redemption of its own bonds is caused by the following
factors. First, Baltikums Banka has considerable free funds. Second, these
bonds are traded in the market with a significant discount to the nominal;
therefore, Baltikums Banka redeems the bonds prematurely and thus minimizes its
interest expenses. The Bank believes too that by ensuring market liquidity of
its bonds it contributes to maintaining good business relations with investors
both currently and in the future. The Bank's opinion is that it is very
important especially these days, when there is instability and nervousness in
the market.

At present, Baltikums Banka bonds of the third issue with the total amount of
EUR 10 million are publicly quoted and listed on the stock exchange NASDAQ OMX
Riga. The Bank has successfully redeemed first two issues of its bonds earlier.

As at 10.07.2009, the total amount of redeemed bonds of the third issue was EUR
3.79 million (37.9% of the issue). Investors showed considerable interest in
bonds issued by Baltikums Banka. Almost all investors came from the Baltic, ¾
of the issue volume was acquired by institutional investors (pension and
investment funds, banks and insurance companies), and ¼ - by private investors.
Baltikums Banka assigned proceeds from the bonds issue to development of trade
finance and to financing of companies engaged in shipping business.

In the future, the Bank might consider more bonds issues depending on the
situation in the financial markets and customer demand for financing of
promising projects.

The non-audited profit of Baltikums Banka for the first half of the year
amounted to LVL 1.072 million. As of 30 June this year, the Bank's assets made
up LVL 103.916 million. At the end of June, Baltikums Banka issued LVL 26.863
million in bonds including loans to households for home purchase worth LVL 14.1
thousand and mortgage loans worth LVL 31.7 thousand. The amount of attracted
deposits was LVL 74.482 million by the end of June.

Information on public bonds issued by the Bank:

Issue 1 Issue 2 Issue 3
Amount of the issue, EUR 3.855 mln 5.0 mln 10.0 mln
Coupon, % p.a. 6 month EURIBOR + 3.5% 6.875% 3 month EURIBOR + 3.0%
Period 2 years 3 years 3 years
Maturity date 29.12.2006 20.04.2009 02.02.2010
Listing Redeemed Redeemed NASDAQ OMX Riga
Uldis Zandars
Baltikums Banka
Deputy of Head of the Product Development and Marketing Department
Tel.: +371 67 031 408, +371 29 206 536
E-mail: [email protected]

Taip pat skaitykite

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2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos 2013-05-27 | NASDAQ OMX biržų naujienos

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