Nasdaq Welcomes Citadele banka to Baltic Market

12.12.2016 RIG

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, December 12, 2016 – Nasdaq (Nasdaq: NDAQ) announces that the subordinated bonds of AS Citadele banka (short name: CBL) will be listed on the Baltic Bond List by Nasdaq Riga as of December 15, 2016.

Citadele banka is a Latvian bank with a presence across the Baltics. The size of Citadele banka bond issue is EUR 40 million. The nominal value of one bond is EUR 10,000. The annual interest rate is 6.25%, interest payments are made twice a year. Maturity date of the bond issue is December 6, 2026, and the issuer has the right to redeem the bonds after 5 years. 

“We welcome Citadele as the bond issuer to Nasdaq Riga where their bonds will enrich the Baltic Bond List offering”, says Daiga Auziņa-Melalksne, Head of Exchange Services at Nasdaq Baltic and Head of Nasdaq Riga. “It is a great pleasure to see that the Baltic capital market serves as a fuel for the bank’s growth strategy across the Baltics.”

“Listing on the Baltic securities market is an appreciation of our development to this point and our successful work in the financial sector,” says Guntis Beļavskis, Chairman of the Board at AS Citadele banka. “Demand for Citadele’s bonds was considerably higher than supply, which is a testament to investors’ interest in quality Baltic issuers. We will strengthen Citadele’s base capital with the funds we have raised and continue our growth strategy in Baltics. Placement also contributes to the development of the Latvian financial market by listing bonds on the regulated market and expanding investment opportunities.”

The bonds were acquired by more than 20 qualified investors across the three Baltic States. ABLV Bank acted as adviser to the bank concerning the program and underwriter. Law Office Eversheds Bitāns acted as the bank’s legal adviser.

AS Citadele banka is the parent company of the Citadele Group. The core market of Citadele Group is the Baltic States – Latvia, Lithuania and Estonia. An international group of investors represented by Ripplewood Advisors LLC owns 75% plus one of Citadele Bank’s shares. The European Bank for Reconstruction and Development owns the remaining 25% minus one of the bank’s shares. For more information, please visit: cblgroup.com.