OREANDA-NEWS. June 03, 2011. AB Bank SNORAS has finished distributing the emission of one-year fixed interest bonds in litas and has attracted LTL 24.2 million for the activity expansion. The bank is distributing the new bonds till the end of June, their annual interest also amounts to 4 per cent, reported the press-centre of Bank SNORAS.

Bank SNORAS finished distributing the bonds emission issued according to the base prospectus of the programme on LTL 300.000.000 medium duration bonds, which was approved by the Securities Commission on 1 July 2010. The bank distributed the total of 242.006 units of LTL 100 nominal value bonds with the fixed 4 per cent annual interest norm. The total nominal value of the emission seeks LTL 24.2 million. The bonds will be redeemed on 1 June 2012.

“Investors' interest does not diminish towards the debt securities with the fixed 4 per cent annual interest, which are issued by Bank SNORAS; therefore, we are offering to investors a new bonds emission upon the same attractive conditions,” says Remigijus Bartaska, the director of Bank SNORAS Investment Business Division.

The Bank is distributing the new bonds emission from 30 May till 30 June inclusive, 4 per cent annual interest will also be paid for the bank's debt securities.  The new distributed bonds emission will not be included in the trade on the regulated market; however, if money is urgently needed, during the entire bonds validity period investors will be able to sell the bonds to Bank “Finasta”, belonging to SNORAS group, which will be regularly posting indicative bonds redemption prices on the website  www.finasta.com.

This year Bank SNORAS has already distributed three emissions of bonds and has attracted LTL 77.8 million for the activity expansion.

“Investors have interest towards the debt securities of the bank due to the attractive interest rates which are higher than the time deposit interest rates on the market or the debt securities of the same duration which are distributed by the Lithuanian Government,” states R. Bartaska, the director of Bank SNORAS Investment Business Division.