Parex banka                                                03.06.2005



PAREX BANKA SUCCESSFULLY PLACES DEBUT EUROBOND



Parex banka today announces that it has successfully placed its debut 

Eurobond issue. The issue, which was joint-lead by JP Morgan and Credit

 Suisse First Boston, raised EUR 100 million with a three-year maturity 

offering a 4.375% coupon. The bonds will be listed on the London Stock 

Exchange.



The Eurobond attracted strong international demand and was placed among a 

quality and diversified institutional and private investor base from Germany, 

Austria, France, Switzerland, Greece, Scandinavian countries, Luxembourg, the 

United Kingdom and the Baltic States. 



Parex’s Eurobond is the first such issue for the Latvian corporate sector and 

will pave the way for other pan-Baltic corporates in their aim to tap into the 

international capital markets.



Commenting on the issue, Valery Kargin, the President of Parex banka, said, 

"the successful Eurobond issue and the high degree of interest it received from 

investors demonstrates international recognition of Parex’s strengths. On a more 

practical side the Eurobond launch diversifies our funding base and provides access 

to fundamentally new sources of funds. “



Parex banka is the leading Bank in the Baltic states offering integrated client 

services including lending, payment card services, leasing,  asset management and 

securities brokerage. The Bank is represented in 16 countries through its network 

of representative offices, branches and subsidiaries, including a subsidiary in 

Switzerland. The Bank intends to broaden its international presence by adding new 

branches in Berlin and Stockholm that will be offering full operational services 

to corporate clients active in the Baltic region.

 

The leading position of Parex banka in Latvia is reflected by international 

acknowledgement from the magazine “The Banker”, which named Parex banka the Best 

Domestic Bank in Latvia in 2004. This award is the second such award received from 

The Banker. Another international magazine, Euromoney, named Parex banka the Best 

Debt House in Latvia, and Global Finance named Parex banka as the Best Foreign 

Exchange Bank in Latvia.



Parex banka is rated Ba1 by Moody's Investors Service, BB+ by Fitch Ratings and

BBB- by Capital Intelligence.



For further information please contact:

International Communications Department,+371 777 8572