TGS Baltic advised Šiaulių Bankas in approving the EUR 250 mln. Euro Medium Term Note Programme and distributing the first EUR 75 mln. Notes issue under the programme

30.09.2021 TGS Baltic advised Šiaulių Bankas in approving the EUR 250 mln. Euro Medium Term Note Programme and distributing the first EUR 75 mln. Notes issue under the programme

We advised Šiaulių Bankas in approving the EUR 250 mln. Euro Medium Term Note Programme and its base prospectus as well as in distributing a EUR 75 mln. Restricted Senior Preferred Notes issue under the programme and the base prospectus. The issued notes will be soon admitted to trading on AB Nasdaq Vilnius in the debt securities trading list.

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.