OREANDA-NEWS. July 11, 2011. Bank SNORAS begins the public distribution of fixed interest bonds in litas and euros. For the one-year debt securities of the Bank, 5 per cent of annual interest will be paid. This year, the Bank issued bond emissions only in litas, reported the press-centre of Bank SNORAS.

“This year, Bank SNORAS issued bond emissions only in litas, while now it offers investors to purchase debt securities in euros, too. The deposit interest is not increasing on the market, one-year bonds with fixed 5 per cent interest are an excellent investment alternative to bank deposits. Investors, having purchased Bank SNORAS bonds, will not only receive a larger return, but also will have an opportunity to sell the bonds prematurely during the bonds validity period”, – says Remigijus Bartaska, the director of Bank SNORAS Investment Business Division.

The minimum purchase amount of fixed interest bonds issued by Bank SNORAS is 500 litas or 500 euros.  The Bank's debt securities will be distributed until 31 July 2011 inclusive, and they will be redeemed on 2 August 2012. During the entire bonds validity period, the investors will be able to sell the bonds to the investment bank “Finasta”, which belongs to Bank SNORAS group, they will also be able to give or otherwise transfer the bonds to another person or company.

Bank SNORAS distributes the new bonds emission according to the base prospectus of LTL 500 million non-negotiable securities of the Bank approved by the Securities Commission on 16 June this year. According to it, Bank SNORAS may issue to the public securities turnover bond emissions whose duration is from 1 to 5 years. The Bank may issue fixed interest bonds, variable interest bonds or zero coupon interest bonds, as well as bonds linked to the financial instrument and any combinations of these bond types.

This year, Bank SNORAS is a quite active participant of the bonds market in Lithuania. Bank has already distributed four emissions of bonds and has attracted LTL 98.3 million for the activity expansion.