The leader of the country’s investment products’ market – AB DnB NORD Bankas – intends to issue up to EUR 300 million nominal value corporate notes in local and foreign markets over the next 12 months.
The leader of the country’s investment products’ market – AB DnB NORD Bankas – intends to issue up to EUR 300 million (LTL 1.04 billion) nominal value corporate notes in local and foreign markets over the next 12 months.
AB DnB NORD Bankas will be issuing the securities based on the Base Prospectus of EUR 300,000,000 Medium-Term Note Programme (certificate number 4R-16) approved by the Securities Commission of the Republic of Lithuania on 1 October.
“The newly approved programme gives us a perfect possibility to flexibly respond to shifting market trends and quickly provide the bank’s customers with beneficial investment solutions taking into account their different needs”, says Andrius Načajus, Investment Banking Manager at AB DnB NORD Bankas.
The terms of the Prospectus stipulate that AB DnB NORD Bankas will offer the market variable interest, zero coupon, dual currency, equity or credit risk linked notes as well as any combinations thereof.
It is planned the bank will issue unsubordinated, unsecured and non-convertible notes or bonds with maturity ranging from 6 months to 10 years.
As at the end of September AB DnB NORD Bankas outstanding debt securities portfolio stood at LTL 872.7 million at par.
AB DnB NORD Bankas holds long term issuer’s default rating A from international rating agency FitchRatings.
AB DnB NORD Bankas is a universal commercial bank that provides comprehensive range of financial services to individual and corporate customers. The bank is part of Denmark-based DnB NORD banking group that was established by the Norway’s largest bank DnB NOR ASA and North Germany’s largest bank Norddeutsche Landesbank Girozentrale (NORD/LB).