First Bond Programme of Baltic International Bank Completed
The first bond issue of Baltic International Bank for a total of 20 million EUR has been completed successfully. 13 EUR and USD bond issues were released as part of the programme, with maturity from one to two years. Accounting for 57% of the demand and with the maturity starting from one and a half years, medium-term bonds were the most popular ones, while the USD was the most demanded bond currency, accounting for 75% of the issue volume. Within the framework of the programme, bonds were purchased by 27 investors, which confirms customer interest in the product.
'We're pleased with the first bond programme implemented by Baltic International Bank and the interest shown by our customers. It's an appreciation of trust on the part of our customers and a possibility to fully integrate the Bank's bonds in the product portfolio offered to our customers,' said Ilona Guļčaka, Chairperson of the Board of the Baltic International Bank, in a commentary on the completion of the first bond issue programme.
As reported previously, on 23 September 2013 the meeting of shareholders of Baltic International Bank approved the first bond issue programme of the Bank for the total amount of 20 million EUR. EUR, USD and GBP currency bonds, with maturity from 1 to 3 years and a fixed or variable interest rate, were put on offer by Baltic International Bank as part of the bond issue.
Bonds of Baltic International Bank are issued to offer its customers an advanced financial product as a more profitable and flexible alternative to deposits. In addition to their high yield, bonds provide more opportunities for the customers: to sell the bonds in over-the-counter market, or get financing by pledging the bonds.