OREANDA-NEWS. May 04, 2011. AB Bank SNORAS has successfully distributed the emission of one-year fixed interest bonds in litas and has attracted LTL 29.18 million for the activity expansion. The bank begins distributing the new bonds, their annual interest will also amount to 4 per cent, reported the press-centre of Bank SNORAS.

“The fixed interest debt securities offered by Bank SNORAS this time have also been highly welcomed by investors. The annual interest rate of the bonds issued by the bank reaches 4 per cent and is much higher than the time deposit interest rates on the market or the debt securities of the same duration which are distributed by the Lithuanian Government,” states Remigijus Bartaska, the director of Bank SNORAS Investment Business Division. “The successful distribution of the emission was influenced not only by the offered attractive investment alternative but also by the expansive customer service network of the bank.”

The total of Bank SNORAS bonds were distributed for LTL 29.18 million. Bank SNORAS was distributing one-year bonds with the fixed 4 per cent annual interest since 21 March till 25 April this year.

The new distributed bonds emission, which will be redeemed on 27 April 2012, will not be included in trade on a regulated market; however, it will be possible to sell, grant or otherwise transfer debt securities to another person. 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.

From 26 April till 29 May, Bank SNORAS will be distributing a new emission of one-year bonds with the fixed interest in litas. The annual profitability of these securities, which will be redeemed on 1 June 2012, comprises 4 per cent. The nominal value of one bond – 100 litas; Bank SNORAS does not apply the acquisition fee for purchasing the bonds.

This emission of Bank SNORAS bonds will also be 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 the securities list of NASDAQ OMX Vilnius Stock Exchange.