The issue comprises 4-year senior preferred fixed-rate reset notes with an optional call date and an interest rate reset at 3 years from issue. The notes carry a fixed annual coupon of 3.739% up to the reset date.
During the book-building process, the issue was oversubscribed six times, reflecting exceptionally strong global demand from institutional investors. The notes were allocated to more than 110 institutional investors across the UK, Germany, France, Spain, Switzerland, the Baltic States, and other countries, including supranational financial institutions.
AB Artea Bank will use the proceeds from the issue to meet its current and future minimum own funds and eligible liabilities (MREL) targets, further strengthen the bank’s liquidity position, and maintain its business growth momentum.
TEGOS lawyers – Dalia Augaitė, Marijus Kriščiūnas, Loreta Antanaitienė, Agnė Pimpytė, Nortautas Zenevičius, and Paulius Žaliauskas – advised AB Artea Bank on the legal aspects of the bond issue.
