Siauliu Bankas, one of Lithuania’s largest banks, has made its debut in the international debt capital markets with a 300-million-euro fixed-rate note issue.
The bank said in a statement on Friday that it “has successfully placed a 300-million-euro issue of 4.25-year senior preferred fixed-rate reset notes with an optional call date and interest rate reset at 3.25 years from issue as debut on the international debt capital markets”.
“The annual fixed-rate coupon on the notes up to the reset date will be 4.853 percent,” it said.
“This note issue shows that we are also attractive to institutional fixed income investors, who demonstrate their confidence in both Siauliu Bankas’ potential and the prospects of the Lithuanian economy,” Tomas Varenbergas, head of investment management at Siauliu Bankas, said in the statement.
“This issue will not only strengthen the image of Siauliu Bankas in the international financial markets, but will also significantly contribute to the implementation of the bank’s strategic plans,” he added.
The notes 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 offering was jointly lead-managed by Citigroup, Erste Group, Goldman Sachs Bank Europe, Morgan Stanley Europe and Siauliu Bankas.
The notes will be listed on Euronext Dublin.
Siauliu Bankas had earlier announced plans to tap international debt markets in the second half of 2024 to raise 250 million euros.
Source: BNS
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