Šiaulių Bankas AB issues EUR 50 million of bonds
17 Novembro 2023 - 4:00AM
Šiaulių Bankas AB issues EUR 50 million of bonds
Šiaulių bankas AB has successfully concluded a tap issue of EUR
50 million of 4-year senior preferred 1.047% coupon bonds in the
international financial markets. With a tap issue the amount of the
total outstanding bonds increased from EUR 160 million to EUR 210
million. The bonds issue volume was oversubscribed 2.3 times.
“We have successfully completed the third, and
potentially final, tap issue process of senior preferred notes with
great success. It’s gratifying to note, that not only the have
existing investors increased their positions, but we have also
attracted new institutional and professional investors. Both the
previous and the current bond offerings have gathered significant
interest among market participants, leading to a growing demand
from retail investors in purchasing the Bank’s bonds. Our focus now
is to direct the Bank's upcoming bond issues towards this investor
segment,” said Tomas Varenbergas, Head of Investment Management
Division of Šiaulių Bankas.
The bonds were issued with the aim of meeting
future minimum requirement for own funds and eligible liabilities
(MREL requirements) set by the Bank's supervisory authorities.
The additional bonds were issued at a yield to
maturity of 6.7%. The maturity date of these bonds is 7 October
2025.
The bonds were issued under EUR 250 million EMTN
Programme dated 22 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 Baa1 with a stable outlook.
Additional information: Tomas Varenbergas Head of
Investment Management Divisiontomas.varenbergas@sb.lt
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