The Baltic commercial bank, Luminor Bank, has issued EUR 300mn worth of four-year senior preferred bonds, The Baltic Times reports. The new issue was oversubscribed with EUR 1.6bn in orders from over 130 investors, particularly in the UK. The bonds carry a coupon of 4.042%. At the same time, Luminor repurchased EUR 214.1mn of existing bonds…
Latvia’s state debt will remain below 50% of GDP in the coming years, Kaspars Abolins, head of the Latvian State Treasury, assured, LETA reports. Currently, the state debt stands at slightly over EUR 18bn, which is around 44% of GDP and one of the lowest in the EU, Abolins noted. The State Treasury expects the…
Demand for new Estonian government bonds totalled EUR 821mn, which was four times more than the EUR 200mn offered, the Ministry of Finance announced, ERR reports. Altogether 28 professional investors and 7,304 retail investors participated in the public bond offering. Retail investors subscribed to bonds worth EUR 29mn and will receive 100% of the amount…
The Latvian state will have to borrow at least EUR 3bn annually for the next four years, Kaspars Abolins, head of the State Treasury, announced, LETA reports. He said that the state needed to refinance earlier Eurobonds and finance the state budget deficit and loans to local governments. The plan was to raise the money…
Lithuania will begin issuing defence bonds after 1 October 2024, Finance Minister Gintare Skaiste announced, BNS reports. The defence bonds will have a maximum interest rate of 2%, which is lower than on savings certificates. The lower rate will ensure that the state borrows for defence at a rate that is cheaper than the market…
Estonia’s Ministry of Finance plans to issue bonds specifically for Estonian citizens for the first time, allowing small investors to benefit from a fixed interest rate and trade the bonds on the Nasdaq Tallinn stock exchange, ERR reports. Finance Minister Mart Võrklaev says that the aim is to diversify the state’s funding sources and provide…
Latvia’s national airline, airBaltic, posted an all-time record revenue and profit in 2023, LSM reported. The company’s annual turnover amounted to EUR 668mn, which was up 33.6% from EUR 500mn in 2022. The carrier’s net profit stood at EUR 34mn, which was up from a loss of EUR 54mn a year earlier. The company will…
Estonia will issue 10-year bonds for EUR 1bn to cover the state budget deficit in 2024, ERR reports. Sven Kirsipuu, deputy secretary general of the Ministry of Finance, said that the bond issue would cover about half of the state’s borrowing needs in 2024. Preliminary indications suggested that investor interest in Estonian bonds remained strong,…
