We represented banks dealers in Lithuania’s borrowing of EUR 750 million by issuing a 30-year Eurobond issue. The annual interest rate for this emission is 0.75%.
Lithuania’s fourth 30-year Eurobond issue
This is Lithuania’s fourth 30-year Eurobond issue, which will ensure the interest will be fixed at a low level for a long period of time.
“The interest rate risk premium above the average value of the swaps, which determines the profitability of this issue, is only 55 base points – i.e. lower than all previous issues of the same duration. Interest rates in the market have been rising for some time, but we have taken the opportunity to lock interest rates lower than inflation,” says Deputy Minister of Finance Gediminas Norkūnas.
We also worked on issuing the following emissions:
- Lithuania borrows EUR 2 billion in foreign markets
- Lithuania borrows EUR 1.3 billion in foreign markets
- Lithuania borrows EUR 1.75 billion on the most favourable terms ever so far
- Lithuania borrows EUR 1.5 billion in foreign markets
Our services and the project team
The transaction was lead-managed by Goldman Sachs and J.P. Morgan. Sorainen partner Tomas Kontautas with counsel Indrė Ščeponienė, as well as senior associates Dalia Augaitė and Agnė Sovaitė, advised the banks on issues related to Lithuanian law.