TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in EUR 1.75 billion Eurobond issue

20.07.2020 TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in EUR 1.75 billion Eurobond issue

TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in making 30-year Eurobond issue at the 0.5 percent annual interest rate. These are the most favourable terms ever that Lithuania was granted in making issues of such duration. The Eurobonds have been distributed at 0.637 percent profit rate, the issue price is equal to 96.27 percent of their face value.

The issue underwriters were the banking group BNP Paribas, Citi and Erste Group banks. In addition to TGS Baltic, in this transaction the State was also represented by international law firm Dentons UK and Middle East LLP.

This year, it is already the second Eurobond issue, in making which the State was represented by TGS Baltic – in April, the Government borrowed EUR 2 billion: 5-year bonds in the amount of EUR 750 million were subscribed for 0.25 percent annual interest, 10-year bonds in the amount of EUR 1.25 billion were subscribed for 0.75 percent annual interest.

TGS Baltic team – partner Vidmantas Drizga, associate partner Mantas Gofmanas and legal assistant Kotryna Visockytė – were advisors to the Ministry of Finance on Lithuanian law issues in this process, who assisted in preparation of the programme offering documentation, as well as other documents in connection with the project.