5000 bearer bonds at total value of LVL 5 million will be placed via the auction. Nominal value of “NORD/LB” bond is LVL 1000; maturity is on December 4, 2006; coupon rate is 6-month RIGIBOR + 0.40%. The coupon rate for the first semi-annual period (from December 4, 2003 till June 4, 2004) will be specified on December 1, 2003.
“NORD/LB Latvija” bonds will be placed via competitive multi-price auction with extension. Any investor may participate, by submitting the bid to licensed banks and brokerage companies. Bids will be accepted from the RSE members on December 4, 2003 from 10:00 till 12:00. The extenstion will be after 12:00.
Settlement for the bonds purchased at the auction will take place on December 9, 2003.
Daiga Auziņa-Melalksne, Director of Development and Services Department, Riga Stock Exchange:
“NORD/LB Latvija” public bonds issue is one more proof that Latvian debt market has good development prospects. We hope that not only financial sector issuers, but other businesses, too, will be more active in issuing corporate bonds instead of borrowing from banks, thus raising relatively inexpensive resources for development.
“NORD/LB Latvija” shares are listed on the Riga Stock Exchange Second list, and are included in RICI and
Dow Jones Riga Stock Exchange indexes.
A summary for JSC “NORD/LB Latvija” bonds issue
Issuer | JSC “NORD/LB Latvija” |
Type of issue | public |
Type of bonds | bearer |
Number of bonds | 5,000 (five thousand) |
Issue value (by nominal value) | LVL 5,000,000.00 (five million lats) |
Nominal value | LVL 1,000.00 (one thousand lats) |
Coupon rate | 6 month RIGIBOR (Riga Interbank Borrowing Rate) plus 0.40 % |
Coupon payment | On semi-annual basis |
Coupon payment dates | 04.06.2004., 04.12.2004., 04.06.2005., |
Start date for coupon calculation | December 4, 2003 |
End date for primary placement | June 4, 2004 |
Maturity date | December 4, 2006 |
Right to call prior to maturity | Non-callable |
Primary placement | Primary placement of the bonds will be done via open multi-price auction with extension, run on December 4, 2003 in compliance with the RSE Management Board instruction of April 14, 2002 “On calculation of market price of a security and order execution on competitive multiple price auctions with extension”. |
Selling price | Selling price is quoted on each business day pursuant to the rules specified in the prospectus. |
Settlement | Payment for bonds purchased in primary placement is settled two business days after the deal. |
More information:
Krista Grīntāle
Director of Corporate Communications Department
Riga Stock Exchange
Phone: 7212431
www.rse.lv
Uldis Bušs
Head of Treasury
NORD/LB Latvija
Phone: 7077157, 7015230
www.nordlb.lv
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