Autorius: DnB Nord bankas, Parašyta: 2007-01-16 10:27.
URL: https://www.traders.lt/page.php?id=235
The bank DnB NORD Bankas – a key participant of Lithuania’s debt securities market - on January 15 set a new semi-annual coupon rate on the bank’s 3-year floating rate mortgage bonds (ISIN LT0000403032). The coupon, payable on 17 July, 2007, has been set at an annual 4.15 per cent.
For the 3-year mortgage bonds with face LTL 50 million face value, the bank DnB NORD pays a semi-annual coupon linked to six-month VILIBOR plus 0.23 percentage points.
The floating rate of DnB NORD Bankas mortgage bonds secure the investors against interest rate risk, as when the interbank market rates rise, the mortgage bondholders earn respectively more. This financial instrument is considered to be one of the safest as the investments are secured by the bank’s mortgaged assets.
The bondholders are paid the coupon semi-annually on January 17 and July 17. The coupon, payable on 17 January, 2007, had been set at annual 3.53 per cent rate. The bonds will be redeemed on 17 July, 2007.
DnB NORD Bankas is a relevant member of dynamic and reliable DnB NORD banking group registered in Denmark that was established by Norway’s largest bank DnB NOR and North Germany’s largest bank NORD/LB. The banking group had focused the activities of both founders in the Baltic region by offering the whole range of modern and top quality financial services in Denmark, Finland, Estonia, Latvia, Lithuania, and Poland.