The VSE to list two corporate bond issues for the first time

24.01.2005 VLN

From February 1, 2005, registered corporate bonds of a foreign company Baltic Property Trust A/S will be admitted to the VSE Current List. Registered Corporate bonds of Vilniaus bankas AB will be included in the same list provided that the issuer fulfills the requirements of the VSE Trading Rules until February 25, 2005 inclusive, i.e. will publicly distribute a sufficient amount of bonds. Such a decision was made at the VSE Management Board meeting on January 24, 2005.

“We are delighted to start trading with this new instrument on the Vilnius Stock Exchange. Listing of corporate bonds on the stock exchange should make it easier for the companies to borrow in the capital market. We believe that reduction of the trading fees as well as admission fees of the corporate bonds not only will benefit investors, but also encourage other companies to follow Baltic Property Trust A/S and Vilniaus bankas AB lead,” said Dalia Jasulaityte, the VSE President.

“As Vilnius Stock Exchange has now become part of OMX and the new trading system SAXESS is being implemented, Baltic Property Trust A/S believes that their recently issued bonds listed on the Vilnius Stock Exchange will be easily tradable on other Baltic and Nordic Stock Exchanges as well. This is a big bonus to our investors as they are of Pan-Baltic and Nordic origin. We also seek to attract other investors, such as pension funds in the Baltic States, which previously were unable to invest into unlisted securities due to legal regulations as well as to create a secondary market of these securities for individual investors. We believe that listed bonds will provide further exposure to the Baltic Property Trust A/S name,” said Algirdas Vaitiekunas, “Baltic Property Trust A/S” Chief Financial Officer.

“We provide investors with the new opportunity to invest in the bonds of a Lithuanian company and to use the advantages of the trading on the stock exchange. Both for institutional and private investors it is more convenient to trade in the VSE listed securities and easier to get all necessary information about the bond turnover. The fact that these bonds are traded on the stock exchange will raise their turnover, and thus increase their liquidity on the secondary market. We think that this issue should be of special interest for big financial institutions like insurance companies and pension funds,” said Vykintas Misiunas, Director of Treasury and Financial Markets Department.

More information on both companies’ bonds is available bellow.

For more information:
Saulius Malinauskas, Director of Listing Deparment, Vilnius Stock Exchange         
+370 5272 1406,saulius.malinauskas@nasdaqomx.com 

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Baltic Property Trust A/S
 
A three-year issue of 50,000 corporate registered bonds at EUR 100 face value of Baltic Property Trust A/S is admitted to the Current Trading List of the Vilnius Stock Exchange. The total nominal value of the issue amounts to EUR 5,000,000. The corporate bond issue was registered with the Lithuanian Securities Commission on September 30, 2004 (securities’ registration act No AB-5263). The bonds will be redeemed on October 24, 2007. The bonds give a right to annual interest of 4.5%.

The core activity of the Baltic Property Trust A/S is investment into first class commercial real-estate in the Baltics, i.e. Lithuania, Latvia and Estonia. The authorized capital of the company amounts to DKK 100,000,000. On December 31, 2003, capital and reserves equaled DKK 108,871,000. In 2003 and 2002, the company’s net profit stood at DKK 9,729,000 and DKK 5,078,000 accordingly.

As of January 18, 2005, the company had 20 shareholders. The largest shareholders (holding more than 5% of all company votes) are the following: investors represented by Hansapank AS (Tallinn) (29.8%), private Danish company Kiresko International ApS (22.3%), governmental organization IO Fonden(20.0%), Leif Hede Nielsen and his company LHN Ejendomme ApS (5.7%), private Danish company Dancasa ApS (5.1%).

Baltic Property Trust Annual Report 2003.pdf – 3 826 KB
Baltic Property Trust priedas prie Obligaciju emisijos prospekto.pdf – 74 KB

Vilniaus bankas AB

Vilniaus bankas AB issued a three-year issue of 1 million registered bonds at LTL 100 (EUR 28.96) face value with the annual interest of 3.1%. This issue was registered with the Lithuanian Securities Commission on January 13, 2005 (securities’ registration act No B – 5267). The bonds are distributed from January 17, 2005 to February 18, 2005 and to be redeemed on February 20, 2008.

At the end of 2004, the total number of the company’s shareholders stood at 405. The main shareholder (holding more than 5% of all bank’s votes) is Skandinaviska Enskilda Banken AB (Sweden), and it owns 98.98% of the authorized capital and votes of the company.

On December 31, 2003, the authorized capital of Vilniaus bankas AB amounted to LTL 154.4 million (EUR 44.72 million) and the shareholders’ ownership stood at LTL 943.5 million (EUR 273.26 million). In 2003 and 2002, the net profit of the company made LTL 132.3 million (EUR 38.32 million) and LTL 126.5 million (EUR 36.64 million) accordingly. During the nine months of 2004, the bank earned LTL 97.7 million (EUR 28.30 million) of profit.