Tallinn/Riga/Vilnius, Baltic Market, December 12, 2014 – Nasdaq (NASDAQ: NDAQ) announces that as of December 16, 2014 the bonds (Ticker: TRB065021A) of AS TRASTA KOMERCBANKA will be listed on the Nasdaq Baltic Bond list by Nasdaq Riga.
TRASTA KOMERCBANKA has raised funds by issuing bonds with the total value of EUR 10 million. The raised funds will be used to finance the bank’s principal activities.
According to the Base Prospectus and its Final Terms of the Bonds Offer Programme, the nominal value of the bonds is EUR 1,000 and initial placement price is 100% of the nominal value. The annual interest rate is 6.5%, interest payments will be made twice a year. The maturity of the bonds is 7 years. The Bank will have the right to redeem the bonds pre-maturely, but not before December 4, 2019.
„We welcome TRASTA KOMERCBANKA on the regulated Nasdaq Baltic Bond Market, and we are pleased to see that the number of companies that diversify their funding sources on the capital market is increasing,” said Daiga Auziņa-Melalksne, Head of Exchange Services at Nasdaq Baltic Market. “Looking from the investors’ perspective, the fixed income assets such as corporate bonds are suitable investment vehicles to use in order to diversify the portfolios both for retail and institutional investors.”
“Since the income from bonds exceeds the income from long-term deposits, this instrument may seem interesting for those, who care about the results of their long-term investments,” said Gundars Grieze, Chairman of the board of AS TRASTA KOMERCBANKA. “Besides, the increase of subordinated capital will help the bank implement its financial policy and develop services of the bank in the market of Latvia. Admission of the bonds to the regulated Nasdaq Baltic market will provide the owners of the bonds with wide trading opportunities and will help to increase the recognition of the bank among international investors.”
About TRASTA KOMERCBANKA
AS “TRASTA KOMERCBANKA” is one of the oldest commercial banks in Latvia which has been working in the financial market since 1989. The bank offers a wide range of financial services for residents and non-residents. Main working spheres of TRASTA KOMERCBANKA are account services, deposits, payments cards, loans, trust services, trade finance, investment services, payment operations, gold investments and individual safes. The bank mostly works in Latvian and other European Union markets. The consolidated group has also representative offices in Russia, Ukraine, Belarus, Kazakhstan, Tajikistan, Azerbaijan, Hong Kong and a branch in Cyprus.
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