OREANDA-NEWS. March 25, 2011. AB Bank SNORAS has successfully distributed one-year bonds with the fixed 4 per cent annual interest and has attracted LTL 24,447 million of additional funds for the activity expansion. The bank begins distributing another emission of bonds, while offering the same conditions to investors, reported the press-centre of Bank SNORAS.

"As the time deposit interest rates are diminishing on the market at the moment, the proposed attractive alternative to invest in the financial product with the fixed stable interest rates has gained a great interest from investors. Bank SNORAS has distributed the debt securities for the total of LTL 24,447 million," states Remigijus Bartaska, the director of Bank SNORAS Investment Business Division.

The total of 1063 contracts were concluded for acquiring the bonds; the average transaction sum comprised about LTL 23 thousand.  Most debt securities of Bank SNORAS were purchased by natural persons.

Bank SNORAS was distributing one-year bonds with the fixed 4 per cent annual interest  since 20 February till 20 March this year; the bank did not apply the acquisition fee for purchasing the bonds. The minimum acquisition sum of the fixed interest bonds was LTL 500, while the nominal value of one bond - LTL 100.

This emission of Bank SNORAS bonds was issued according to the base prospectus of the programme on LTL 300.000.000 medium duration bonds, which was approved by the Securities Commission on 1 July 2010. The new distributed bonds emission will not be included in trading on the regulated market.

The bonds will be redeemed on 22 March 2012; however, it will be possible to sell, grant or otherwise transfer the debt securities to another person or company. Moreover, if money is urgently needed, during the entire bonds validity period investors will be able to sell the bonds to Bank "Finasta", belonging to SNORAS group, which will be regularly posting indicative bonds redemption prices on the website www.finasta.lt.

Since 21 March, Bank SNORAS will begin distributing another one-year bonds emission with the fixed 4 per cent annual interest. The Bank's debt securities will be distributed until 25 April this year, and they will be redeemed on 27 April 2012.