Estonian brokerage Admiral Markets AS has announced that it is preparing a bond issuance. The company will place a public offering of unsecured subordinated bonds at an interest rate of 8 percent per annum.
The firm will place the issue in the Baltics. It will be available to both institutional and retail investors with 50,000 bonds at a nominal price of €100 per bond available. Investors willing to participate in the sale have to subscribe between the 8th and the 19th of December.
Elaborating on the sale, the CEO of Admiral Markets AS, Sergei Bogatenkov said: “Admiral Markets is aiming for fast growth and to further increase its business volumes. This bond issuance will ensure the long-term sustainability of the activities of Admiral Markets AS, by expanding the company’s total capital base.”
“As a fintech company, one of our objectives is to continue to provide state-of-the-art trading platforms for our client base and remain a technologically advanced online trading company”, said Sergei Bogatenkov, CEO of Admiral Markets AS,” Bogatenkov elaborates.
Admiral Markets’ net income from trading for 2016 amounted to €23.0 million. Net profits were €6.5 million and total assets are €28.1 million. Until the end of June 2017, the company had 24,109 clients that have placed at least one trade over the past twelve months.
The total amount of client assets deposited with the firm amounted to €24.0 million.
As mentioned the bond issue will be available to clients only based across the Baltic states. Investors from Estonia will need to have a securities account opened with the Estonian Central Securities Depository. Those that are willing to submit a purchase offer from Latvia and Lithuania, will have to use the respective market’s exchange members.