A restricted senior preferred notes issue is the first of its kind in Lithuania. The notes were issued at a spread of 140 basis points over the mid-swap rate. The new notes was priced with a coupon of 1,047%. AB Šiaulių bankas will use the funds raised for ensuring the minimum requirement for own funds and eligible liabilities, as required. Luminor Bank AS was the issue underwriter.
Šiaulių bankas entered international markets for the first time.
In this process, Vidmantas Drizga and Robertas Degesys, Mantas Gofmanas, Karolina Lapinskaitė and Gintarė Gudaitytė were advisors to the bank on law issues, who prepared the base prospectus of the programme, as well as other documents of the bank in connection with the project, represented the bank before the Bank of Lithuania for the approval of the base prospectus, as well as before AB Nasdaq Vilnius for admission of the notes to trading on the regulated market.
Šiaulių bankas is the largest Lithuanian capital bank, paying special attention to business financing and consumer financing solutions.