AstroBank on Friday announced that it will pay interest and proceed with the early redemption of two of its senior preferred bonds on June 30, 2025.
The bonds in question include one with a nominal value of €8.2 million, and another worth $12.2 million.
The interest rates on these bonds are 6.50 per cent and 8.50 per cent per annum respectively.
The interest is calculated using the actual number of days for each period divided by 365 days, or 366 in a leap year, and is paid twice a year at the end of each period.
For the current cycle, the interest period began on December 29, 2024, which was also the end date of the previous period, and ends on June 29, 2025, but not including that date.
The bank has estimated that the interest payable for the euro-denominated bond will be 3.241 per cent.
The interest payable for the dollar-denominated bond will be 4.238 per cent.
Moreover, AstroBank confirmed that the record date for both bonds is June 27, 2025.
In addition, the ex-interest date is June 26, 2025, and the cum-interest date is June 25, 2025.
Because June 29, 2025, falls on a Sunday, AstroBank said that it will proceed with the interest payment on June 30, 2025, in line with the bond terms.
In addition to the interest payments, AstroBank announced that it will exercise its right to redeem both bonds early, as allowed under the terms of issue.
“The bank has decided to exercise the right to call the notes and proceed with early repayment of the 100 per cent of their nominal value together with the accrued interest due on the call date,” the bank said.
The funds will be distributed to bondholders on June 30, 2025.
The announcement clarified that the early redemption was approved by the relevant authority.
Finally, AstroBank stated that these bonds qualify for the Minimum Requirement for Own Funds and Eligible Liabilities and contribute to the bank’s overall MREL obligations.
