Šiaulių Bankas issued the first subordinated bond issue of EUR 20 million

Šiaulių Bankas AB, company code 112025254, the address Tilžės st. 149, LT-76348 Šiauliai, Lithuania.

Based on the Bank's Board decision dated 20 December 2019 the 10-year subordinated bond issue of EUR 20 million with 6.15 per cent annual interest was issued to institutional investors. The bonds will be paid and registered at the Lithuanian branch of Nasdaq CSD SE on 23 December 2019.

 “Subordinated bonds are included in Tier 2 capital, thus, using a larger capital base the bank will have more opportunities for sustainable growth and higher returns for shareholders. Bonds are also an eligible liabilities to meet MREL requirement which will come into force within 4 years”, - says Donatas Savickas, Head of Finance and Risk Management Division of Šiaulių Bankas.

According to the terms of the issue, the bonds should be admitted to trading on a regulated market - they are to be listed on the Nasdaq Baltic Debt Securities within 12 months from their registration.

 In 2019 international rating agency Moody's  upgraded Šiaulių Bankas' long-term credit rating from Baa3 to Baa2 and confirmed its rating outlook as stable.

Additional information:

Head of Markets and Treasury

Tomas Varenbergas ,