We represented bank-dealers in AB Šiaulių bankas’ issuance of EUR 300 million 5.25-year senior preferred fixed-rate reset notes with an optional call date and interest rate reset at 4.25 years from issue.
The annual fixed rate coupon on the notes up to the reset date will be 4.597%. The settlement will take place on 25 March 2025. The notes will be listed on Euronext Dublin. They have been allocated to more than 100 institutional investors from the UK, Germany, France, Switzerland, the Baltic States and other countries, including supranational financial organizations.
The proceeds of the notes will be used by Šiaulių bankas to meet existing and future minimum own funds and eligible liabilities (MREL) targets, to improve the bank’s liquidity position, and to finance other general corporate purposes.
Global investment banks Erste Group, Goldman Sachs Bank Europe SE and Morgan Stanley Europe SE have been mandated by Šiaulių bankas to act with Šiaulių bankas as Joint Lead Managers. The investment banks were advised on Lithuanian law matters by partner Augustas Klezys, counsels Dr Lina Aleknaitė-van der Molen, Vitalija Impolevičienė and Gerda Skirbutienė and associate Andrius Pilitauskas.
