AB Šiaulių bankas, a long-standing client of TGS Baltic, has successfully placed a EUR 300 million senior preferred fixed-rate Eurobond issue with a maturity of up to 5.25 years, with the option to redeem the bonds early after 4.25 years from the issue and to reset the fixed interest rate.
The annual fixed rate coupon on the bonds up to the reset date will be 4.597%. The issue date of the bonds is 25 March 2025. The bonds will be admitted to trading on Euronext Dublin.
The bonds have been allocated to over 100 institutional investors, including international financial organisations from the UK, Germany, France, Switzerland, the Baltic States and other countries.
Šiaulių Bankas will use the proceeds of the issue to meet existing and future minimum own funds and eligible liabilities (MREL) targets, to improve the bank’s liquidity position and to finance its day-to-day operations.
Šiaulių Bankas mandated global investment banks Erste Group, Goldman Sachs Bank Europe SE and Morgan Stanley Europe SE, as well as Šiaulių Bankas, as Joint Lead Managers.
TGS Baltic lawyers Dalia Augaitė, Marijus Kriščiūnas, Loreta Antanaitienė, Lukas Stankevičius, and Nortautas Zenevičius advised the client on the legal aspects of the bond issue.
