Published on 10/27/2017 in the Prospect News Emerging Markets Daily.
New Issue: Latvia’s ABLV sells $75 million of 2.15% bonds, €45 million more bonds
By Susanna Moon
Chicago, Oct. 27 – Latvia’s ABLV Bank, AS priced $75 million of 2.15% two-year bonds and €20 million of 0.95% two-year bonds at par and €25 million of new 10-year subordinated discount bonds, according to a bank announcement.
For the subordinated issue, ABLV sold 250,000 of bonds at par of 100 with initial placement price of 83.047% of par. The fixed discount rate will be 3¾% for the first five years, with a fixed coupon rate of 3¾% after that.
During initial placement, the bonds were acquired by more than 150 investors, according to a bank notice
ABLV is an independent private bank based in Riga, Latvia.
| Issuer: | ABLV Bank, AS
|
| Amount: | $75 million and €45 million
|
| Settlement date: | Oct. 27
|
|
|
| Dollar bonds
|
| Amount: | $75 million
|
| Issue: | Bonds
|
| Maturity: | Oct. 27, 2019
|
| Coupon: | 2.15%
|
| Price: | Par
|
| Yield: | 2.15%
|
|
|
| Euro bonds
|
| Amount: | €20 million
|
| Issue: | Bonds
|
| Maturity: | Oct. 27, 2019
|
| Coupon: | 0.95%
|
| Price: | Par
|
| Yield: | 0.95%
|
|
|
| Subordinated issue
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| Amount: | €25 million
|
| Issue: | Subordinated discount bonds
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| Maturity: | Oct. 27, 2027
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| Coupon: | Fixed discount rate of 3¾% until Oct. 27, 2022, after that fixed coupon rate of 3¾%
|
| Price: | 83.047% of €100
|
| Call option: | Beginning Oct. 27, 2022
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