OREANDA-NEWS. October 11, 2011. Bank SNORAS begins the public distribution of a new one-year bonds emission in litas and euros with 4.5 per cent of interest. While the uncertainty as to the perspectives of economy growth continues and all the world's markets of shares collapse, we hope that the investors this time will also be active while acquiring the bonds issued by Bank SNORAS. During the bonds emission distributed in September, LTL 32,4 million were attracted, reported the press-centre of Bank SNORAS.   

“While uncertainty prevails on the financial markets and the markets of shares, financial instruments of fixed yield are becoming more popular. While the share prices are dropping, people are looking for a safe shelter for their money, therefore, we hope that the investors' interest in the bonds distributed by the bank will continue to grow,” states Remigijus Bartaska, the director of Bank SNORAS Investment Business Division.

According to him, the interest offered by the bonds distributed by Bank SNORAS is significantly higher than the time deposit of the same duration. Currently for a one-year time deposit approximately 1.5-3 per cent of annual interest is paid.

For one-year (371 days) fixed interest bonds Bank SNORAS offers the investors 4.5 per cent of annual interest, the initial investment amount amounts to 500 litas and euros. The fixed interest bonds will be distributed on 3-30 October, while the debt securities will be redeemed on 5 November 2012.

The new bonds emission of Bank SNORAS will not be included in the trade on the regulated market; however, the investors who acquired these securities, as before, will be able to sell the bonds to the investment bank “Finasta” belonging to SNORAS group during the entire bonds validity period. On the website of the “Finasta” bank www.finasta.com, the investors will be able to watch the bonds redemption prices.

During the distribution of the bonds emission with fixed interest which ended on 2 October of this year, Bank SNORAS distributed 233 564 units of bonds of LTL 100 nominal value and 26 323 units of bonds of EUR 100 nominal value with the fixed annual interest rate of 4.5 per cent. The total nominal value of these emissions amounts to LTL 32.445 million, the bonds will be redeemed on 4 October 2012.

Bank SNORAS is distributing the bonds emissions according to the base prospectus of LTL 500 million non-negotiable securities, which was approved for one year by the Securities Commission in the middle of June this year.