Market Attention to Ukio Bankas Bonds Doubled
OREANDA-NEWS. June 23, 2011. Over a month Ukio bankas distributed a bond issue which attracted over LTL 43 million, showing a double increase against May when a total of LTL 20.7 million was generated from bond sales.
The offering of one-year fixed-rate bonds with a fixed annual interest rate of 4 per cent was finished on 22 June 2011. From 27 June Ukio bankas starts offering a new one-year fixed-rate bond issue in litas whose annual profitability will reach 4 per cent.
“This year we raised over LTL 95 million through four bond issues. Such market interest in Ukio bankas bonds testifies to the fact that the clients are inclined to select stable profit yielding methods for investment,” Marius Arlauskas, director of Ukio bankas Financial Institutions and Fund Raising department, said. “Currently interest on deposits is tending downwards, investing in investment funds is still sluggish and therefore for a short-term period clients are inclined to invest in securities with fixed income rate, which currently ensure one the largest interest rates on the market – 4 per cent. We will apply such an interest rate on the new bond issue as well.”
As noted by him, the successfully distributed bond issue allows a conclusion that investors are showing increasing attention to Ukio bankas and its products. As maintained by Mr Arlauskas, this is predetermined by both higher interest offered by Ukio bankas and enhanced international ratings assigned to Uklio bankas.
Ukio bankas will offer bonds of the new issue until 28 July at the Bank’s branches and client service units, also through the internet banking system.
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