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Vilnius. In response to a rising demand for debt securities, within the next 12 months DnB NORD bankas plans to offer the market bonds with a total value of up to LTL 500 million at par. Most of the securities to be issued this year will be offered for individuals in Lithuania, who are willing to profit more from their growing income and savings.
The bonds of DnB NORD Bankas will be issued under the Prospectus approved with the Securities Commission on 11 January. This is the largest bond issuance programme registered with the Lithuanian Securities Commission. It comes into effect as of the registration date and entitles the Bank to issue its securities in the Lithuanian as well as in the foreign markets.
“This programme will allow us to respond to changes in capital markets without delay and to offer our customers the most profitable investment solution”, Andrius Načajus, the manager of the Investment Banking Department of DnB NORD Bankas, says.
Depending on the situation on the market, DnB NORD Bankas plans to offer the customers fixed or floating rate debt securities, zero coupon bonds, double currency bonds as well as other market novelties. The Prospectus allows the bank to issue securities with maturity ranging from six month to 10 years.
DnB NORD Bankas, ranked the Best Debt House in Lithuania by Euromoney magazine, in 2006 successfully placed bonds with the total face value of LTL 242 million. Equity linked bonds were the most popular among the investors, as the bank granted its guarantee to redeem the bonds at their par value should the index value fall below the initial, therefore minimising their risk.
On 21 December 2006, the international ratings agency Fitch Ratings, having assessed the integration of DnB NORD Bankas into a dynamic and reliable DnB NORD financial group, upgraded the Bank’s Issuer Default rating ("IDR") to 'A' from 'A-' (A minus) and Short-term rating to 'F1' from 'F2'. Following the upgrade, the Outlook is now Stable. This high appreciation of DnB NORD reliability matches the sovereign rating of the Republic of Lithuania.
The bonds of DnB NORD Bankas will be issued under the Prospectus approved with the Securities Commission on 11 January. This is the largest bond issuance programme registered with the Lithuanian Securities Commission. It comes into effect as of the registration date and entitles the Bank to issue its securities in the Lithuanian as well as in the foreign markets.
“This programme will allow us to respond to changes in capital markets without delay and to offer our customers the most profitable investment solution”, Andrius Načajus, the manager of the Investment Banking Department of DnB NORD Bankas, says.
Depending on the situation on the market, DnB NORD Bankas plans to offer the customers fixed or floating rate debt securities, zero coupon bonds, double currency bonds as well as other market novelties. The Prospectus allows the bank to issue securities with maturity ranging from six month to 10 years.
DnB NORD Bankas, ranked the Best Debt House in Lithuania by Euromoney magazine, in 2006 successfully placed bonds with the total face value of LTL 242 million. Equity linked bonds were the most popular among the investors, as the bank granted its guarantee to redeem the bonds at their par value should the index value fall below the initial, therefore minimising their risk.
On 21 December 2006, the international ratings agency Fitch Ratings, having assessed the integration of DnB NORD Bankas into a dynamic and reliable DnB NORD financial group, upgraded the Bank’s Issuer Default rating ("IDR") to 'A' from 'A-' (A minus) and Short-term rating to 'F1' from 'F2'. Following the upgrade, the Outlook is now Stable. This high appreciation of DnB NORD reliability matches the sovereign rating of the Republic of Lithuania.