Completion of the First Tranche of Bonds of Baltic International Bank
As reported previously, the first issuance programme of bonds of the Bank for the total amount of 20 million Euros was approved by the meeting of shareholders of Baltic International Bank on 23 September this year, to be implemented within the next 12 months. As part of the issue, Baltic International Bank offers its customers fixed or variable rate EUR, USD and GBP bonds with maturity from 1 to 3 years.
The set target was reached during the first tranche which took place from 15 October till 12 November, with the bonds sold for the total amount of 5 million Euros. Customers were most interested in buying 2-year variable rate EUR bonds.
Ilona Gulchak, Chairperson of the Board of Baltic International Bank, noted: ‘We’re delighted to see our customers interested in buying the first issue of our bonds. This is proof of the trust in Baltic International Bank on the part of our customers, and it also enables the customers to diversify their investments.’
According to the programme approved by the meeting of shareholders of Baltic International Bank, several other tranches are scheduled to take place by September next year, with an opportunity for customers of the Bank to purchase bonds for the total amount of 15 million Euros. The purpose of issuance of the bonds is to offer customers of Baltic International Bank a modern financial product as a more profitable and flexible alternative to deposits. In addition to their higher yield, the bonds also promise more options for customers: the bonds can be sold on the over-the-counter (OTC) market, or loan can be raised by pledging the bonds.Information about the bond issue is available in more detail on the website of Baltic International Bank, and the bonds can be purchased by contacting your private banker.