We represented bank-dealers in AB Šiaulių bankas’ issuance of EUR 300 million 4.25-year senior preferred fixed rate notes at the annual fixed rate of 4.853%. Demand for Šiaulių bankas inaugural Eurobonds reached massive > EUR 1.5bn.
The notes’ issue date is 5 September 2024. They will be traded on the Euronext Dublin market. They have been allocated to almost 100 institutional investors from the UK, Germany, France, Switzerland, the Baltic States, and other countries, including international public financial institutions.
The proceeds of the issue will be used to finance the Bank’s day-to-day operations, including strengthening the funding structure, achieving the existing and future minimum own funds and eligible liabilities (MREL) targets and improving the Bank’s liquidity position. This issue may also be used to refinance previous liabilities.
Citigroup, Erste Group, Goldman Sachs Bank Europe SE and Morgan Stanley Europe SE have been selected as foreign banks-dealers. They were advised on Lithuanian law matters by partners Augustas Klezys and Indrė Ščeponienė, counsels Lina Aleknaitė-van der Molen and Gerda Skirbutienė and associate Andrius Pilitauskas.
