OREANDA-NEWS. May 20, 2014. Baltikums Bank regularly conducts issues of bonds for various companies in Latvia and abroad.
 
This year, the bank has been instrumental in two bond issues for SIA ExpressCredit.
 
An issue of secured bonds with a nominal volume of EUR 5 mio. was fully placed early in the year. The redemption date was 25 November 2018, with a coupon rate of 14% per annum.
 
Subscription for a further unsecured issue of the company’s bonds will continue until 5 December 2014, with a nominal volume of EUR 2.55 mio. The redemption date is 25 December 2020 and the coupon is 15% p.a.
 
Both issue prospectuses have been registered with the FCMC and the bonds are on the NASDAQ OMX Riga Bond List.
 
SIA ExpressCredit owns the largest chain of pawn shops in Latvia, with 95 branches in 38 cities. The company’s turnover in 2013 constituted EUR 13.67 mio. according to unaudited data, with EUR 370,280 in profits and EUR 1,987,980 paid as tax. The company provides several kinds of loans, including mortgages, loans against movable property (pawn shop loans), loans without collateral and loans secured by vehicles.