We assisted Luminor Bank in organising and distributing Restricted Senior Preferred Notes with a total value of EUR 75 million for Šiaulių bankas. The four-year bonds are issued with the issuer’s right to redeem them early after three years. The bonds will be listed on the Nasdaq Baltic Debt Securities List.
Distributes bonds on the international market for the first time
Tomas Varenbergas, Director of the Markets and Treasury Department at Šiaulių bankas, comments: “The new bond issue is the first time that Šiaulių bankas has entered the international bond market. This will help us meet future MREL requirements, while strengthening the liability structure and expanding the investor base. After receiving positive feedback and great interest, with the new issue we focused on institutional investors in the Baltic and Scandinavian countries.”
Moody’s has assigned a long-term deposit rating of Baa2 with a positive outlook to Šiaulių bankas.
Šiaulių bankas has previously issued a bond issue, but this is the first time that the distribution has taken place on the international market.
Our services and project team
We advised Luminor Bank on all matters related to organising and distributing the bond issue. The project team was led by senior associate Dalia Augaitė and partner Augustas Klezys.
