We represented bank dealers as Lithuania borrowed EUR 1.2 billion on the international capital markets by issuing a new 5.5-year Eurobond of EUR 900 million and tapping the 10-year Eurobond issued in spring this year for EUR 300 million.
“As interest rates continued to rise, Lithuania took advantage of the temporarily stable situation in the financial markets and completed this year’s foreign borrowing programme. We planned to borrow up to EUR 1.25 billion, since the demand was strong for issues of both durations, we borrowed EUR 1.2 billion,” says Gediminas Norkūnas, Vice-Minister of Finance of the Republic of Lithuania.
The new 5.5-year Eurobonds were issued at a yield of 4.283 per cent and an issue price equal to 99.261 per cent of their face value. The annual coupon was set at 4.125 per cent.
The 10-year Eurobonds were tapped at a yield of 4.514 per cent and an issue price equal to 81.705 per cent of their face value. The annual coupon was set at 2.125 per cent.
Our services and team
The transaction was lead-managed by Deutsche Bank and J.P. Morgan. Our team, consisting of partners Tomas Kontautas and Indrė Ščeponienė, senior associate Agnė Sovaitė, as well as associate Eglė Martinaitytė, advised the banks on issues related to Lithuanian law.
