Company Announcements

Šiaulių bankas AB issues EUR 75 million of senior preferred bonds

Source: OMX
Šiaulių bankas AB issues EUR 75 million of senior preferred bonds

Šiaulių bankas AB has successfully completed an issue of 75 million euros of senior preferred bonds. The bonds were issued with four years maturity, with issuer’s optional redemption date after three years.

"The new bonds issue is the first time that Šiaulių bankas AB has tapped international debt markets. We have taken an important step to meet the Bank’s future regulatory MREL requirements, while also strengthening liability structure and increasing the investor base. With a current issue we have mainly targeted institutional Baltic and Scandinavia investors, as we received positive feedback and interest amongst them,” commented Tomas Varenbergas, Head of Treasury & Market of Šiaulių bankas AB.

The bonds were issued at a spread of 140 basis points over the mid-swap rate. The new security was priced with a coupon of 1,047%.

The bonds were issued under EUR 250 million EMTN Programme dated 27th September 2021 and are expected to be listed on the Nasdaq Baltic bond list. Šiaulių bankas AB long term deposits rating from Moody’s is Baa2 with a positive outlook.

Additional information:
Tomas Varenbergas
Head of Treasury and Markets
tel. +370 5 2032 200