OREANDA-NEWS. November 09, 2011. Bank SNORAS starts publicly distributing a new one-year 4.5 per cent  interest bonds emission in litas and euros. In October, through debt securities, the bank attracted LTL 118.07 million from investors, reported the press-centre of Bank SNORAS.

“As investors' anxiety continues to rise in financial markets due to the future of the indebted countries of the euro zone and while the rates of the shares, considered the risky asset class, are going down, the bonds being issued by Bank SNORAS could be one of the few alternatives for investors to protect money,” says Vladimiras Streckij, the director of Bank SNORAS Brokerage Department.

According to him, the debt securities being issued by the bank could be a quiet bay after evaluating the inflation level in Lithuania as well.

“The Statistics Department announces that the annual inflation in October will probably seek 4.5 per cent, while the average annual – 4 per cent,” states V. Streckij. “Therefore, we do hope that the residents' interest toward the new bonds emission will not be less than toward the ones distributed previously.”

For one-year (368 days) fixed interest bonds Bank SNORAS offers the investors 4.5 per cent of annual interest, the minimum investment sum amounts to 500 litas or euros. The fixed interest bonds are distributed on 2-30 November (inclusive), the bonds will be redeemed on 3 December 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.

Through the bonds emission in litas and euros, distributed on 3-30 October, Bank SNORAS attracted LTL 34.57 million from investors.  For these debt securities, which will be redeemed on 5 November 2012, 4.5 per cent annual interest will also be paid.

Bank SNORAS issues the bonds emissions according to LTL 500 million non-negotiable securities base prospectus approved by Securities Commission in the middle of June this year.

In October alone, the deposit certificates distributed by Bank SNORAS attracted LTL 83.5 million. This liquid saving instrument becomes popular very fast; it seems that a deposit certificate can be sold without being kept till the end of the established term and not to forfeit all the accrued interest. The minimum sum of the deposit certificate seeks 100 litas or 100 euros, the duration of the deposit certificate – one year.