“Despite the downgrading of Lithuania’s credit rating in May, after one of the agencies made such a decision due to the protracted war in Ukraine, foreign investors are positive about our country and its economic and political situation. Today we borrowed a significant amount, thus in the first half of this year securing the funds needed for this year in foreign financial markets,” Vice-Minister of Finance Darius Sadeckas says.
At the time of the new issue, the demand was three times higher than the borrowing requirement, a risk premium of 90 basis points above the mid-swap rate was set. Lithuania borrowed EUR 1 billion from more than 20 countries.
The new 7-year Eurobonds were issued at a yield of 3.682 per cent and issue price equal to 98.895 per cent of their face value. The annual coupon was set at 3.500 per cent.
The settlement for the issue will take place on 3 July 2024, and the Eurobonds will mature on 3 July 2031.
The transaction was lead-managed by banksDeutsche Bank, HSBC and Société Générale. Swedbank was appointed as the co-lead manager.
Important Information
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