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 Division