Company briefs - 2011-04-07

Lithuania-based Ukio Bank finished an issue of its 1-year fixed bonds, in litas, that attracted almost 17.6 million litas (5.1 million euros) in interest, reports LETA. During the sales campaign, 175,544 units of bonds, with nominal value of 100 litas, fixed with a four-percent annual interest rate, were issued. Redemption of bonds will be on April 10, 2012. “We have successfully distributed one more bond emission, the results of which prove that the instrument of investment and the terms offered by us is attractive and relevant to investors,” said Marius Arlauskas, director of Ukio Bank Financial Institutions and Fund Raising Department. The bonds emission will be redeemed after 375 days paying nominal value and accrued interest for every bond.

Starting May 2, Estonian hotels and motels will be subject to the new pan-European star system ‘Hotelstars’ that should double the number of hotels with stars in Estonia, reports Postimees Online. In Europe, more than 17,000 hotels in 7 countries have been classified according to the ‘Hotelstars’ system. Latvia and Lithuania have also announced adopting the new system. Estonian Hotels and Restaurants Association board chairman Feliks Magus said that joining the pan-European star system will increase Estonia’s attractiveness among tourists and will unify and increase the quality level of accommodation services. Twenty-three accommodation establishments in Estonia have stars now, and the association forecasts that the new system will double the number of hotels with stars in Estonia by the end of 2012.