Published: 2018-07-06 10:29:15 CEST
Likvidējamā ABLV Bank, AS
Inside information

On Procedure of Redemption of Bonds issued by ABLV Bank, AS in Liquidation

Riga, Latvia, 2018-07-06 10:29 CEST -- On 12 June 2018, the Financial and Capital Market Commission approved the decision of the meeting of shareholders of ABLV Bank, AS on the voluntary liquidation, which is deemed to be the day of commencement of voluntary liquidation of the bank. Thus, all bonds of ABLV Bank, AS in liquidation shall be redeemed in accordance the orders of creditors provided by the Credit Institutions Law.

This means that the maturity dates set in the terms and conditions of all the bonds issued by the bank lose their validity, because all bond issues shall be redeemed simultaneously with the claims of the creditors of an appropriate order, and the principal amounts shall be paid to all the bondholders under the particular sequence of satisfying of creditors’ claims in accordance with the procedure of settlement with the creditors provided in the Credit Institutions Law.

In Nasdaq CSD, the maturity date of all the bonds issued by ABLV Bank, AS in liquidation shall be changed to 31 December 9999. It should be noted that this is a technical correction and it does not affect the redemption of bonds simultaneously with the claims of creditors of an appropriate order under the voluntary liquidation as provided by the law.

The abovementioned procedure applies also to the bond issue series ABLV FXD USD 110718 (ISIN LV0000802072) and ABLV FXD EUR 110718 (ISIN LV0000802080) that were to be redeemed on 11 July.

As reported earlier, on 14 June 2018 there was accounting of the coupon amount calculated but not disbursed carried out to a separate account for all the holders of the straight bonds issued by the bank. The bondholders will be able to receive the funds under the calculated bond coupons in accordance with the procedure of satisfying the claims of the creditors provided in the Credit Institutions Law.

         Artūrs Eglītis
         ABLV Group Communications Leader
         ABLV Bank, LAS
         Tel.: +371 6700 2454
         e-mail: arturs.eglitis@ablv.com