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VILNIUS. DnB NORD Bankas ranked as Lithuania‘s best debt house on 7 February will start the placement of its securities linked to the pair of major global currencies – euro and US dollar. The litas nominated short term notes provide for a likely yield that is twice higher than that of time deposits.
The yield of 18-month maturity notes of DnB NORD Bankas is linked to the stability of euro and US dollar exchange rate. Over the course of last three years the euro has never appreciated against the dollar more than 1.38 and has never fell more than 1.17.
„As long as the trend is sustainable the note holders will earn a 10.5 percent yield. Should the dollar/euro exchange rate falls beyond the 1.17-1.38 corridor; DnB NORD Bankas will repay the total invested amount at the maturity, “said Mindaugas Tutlys, the head of Capital markets at DnB NORD Bankas.
On Wednesday the euro traded at 1.30 against the dollar.
These notes will be on offer until March 16 and available in all outlets of DnB NORD Bankas. The notes are placed at par value with no extra fees attached. The notes mature on 16 September, 2008.
On 7 of February DnB NORD Bankas will also place on the market its first three-year maturity notes linked to Hang Seng index that tracks the most liquid stocks of Chinese companies.
“These securities stand out in Lithuanian market because DnB NORD Bankas set 100 percent participation coefficient. It means that the note holders will receive full participation in the growth of the index,” M.Tutlys said.
China equity market linked notes will be on offer until March 16. They will be redeemed on 22 March, 2010.
The notes are issued under 500 mln litas worth bond issuance programme that has been approved by country’s Securities commission. This is the largest bond issuance programme registered with the Lithuanian Securities Commission.
Having assessed successful integration of DnB NORD Bankas into a dynamic and reliable DnB NORD financial group, the international ratings agency Fitch Ratings upgraded the Bank’s Issuer Default rating ("IDR") to 'A' from 'A-' (A minus) and Short-term rating to 'F1' from 'F2' on 21 December 2006. This high valuation of DnB NORD Bankas reliability now matches the sovereign rating of the Republic of Lithuania.
The yield of 18-month maturity notes of DnB NORD Bankas is linked to the stability of euro and US dollar exchange rate. Over the course of last three years the euro has never appreciated against the dollar more than 1.38 and has never fell more than 1.17.
„As long as the trend is sustainable the note holders will earn a 10.5 percent yield. Should the dollar/euro exchange rate falls beyond the 1.17-1.38 corridor; DnB NORD Bankas will repay the total invested amount at the maturity, “said Mindaugas Tutlys, the head of Capital markets at DnB NORD Bankas.
On Wednesday the euro traded at 1.30 against the dollar.
These notes will be on offer until March 16 and available in all outlets of DnB NORD Bankas. The notes are placed at par value with no extra fees attached. The notes mature on 16 September, 2008.
On 7 of February DnB NORD Bankas will also place on the market its first three-year maturity notes linked to Hang Seng index that tracks the most liquid stocks of Chinese companies.
“These securities stand out in Lithuanian market because DnB NORD Bankas set 100 percent participation coefficient. It means that the note holders will receive full participation in the growth of the index,” M.Tutlys said.
China equity market linked notes will be on offer until March 16. They will be redeemed on 22 March, 2010.
The notes are issued under 500 mln litas worth bond issuance programme that has been approved by country’s Securities commission. This is the largest bond issuance programme registered with the Lithuanian Securities Commission.
Having assessed successful integration of DnB NORD Bankas into a dynamic and reliable DnB NORD financial group, the international ratings agency Fitch Ratings upgraded the Bank’s Issuer Default rating ("IDR") to 'A' from 'A-' (A minus) and Short-term rating to 'F1' from 'F2' on 21 December 2006. This high valuation of DnB NORD Bankas reliability now matches the sovereign rating of the Republic of Lithuania.