Nordea branch issues debt securities

  • 2004-03-25
  • Baltic News Service
RIGA - Nordea Bank Finland managed to place 27 percent of its short-term bills on the Riga Stock Exchange on March 22.

The bank, the only foreign bank branch working in Latvia, sold 270 bills out of 1,000 on offer - each with a par value of 10,000 lats (15,000 euros) - at an average weighted price of 99.87 percent of par, which calculates into a yield of 3.765 percent.
The total size of the offer was 10 million lats.
The securities placed on the market by Nordea Bank Finland Plc Latvia branch were listed on the Riga Stock Exchange official debt securities list on March 25.
The Nordea group's issued the debt as a means of raising finance and diversifying its debt portfolio.