Lithuania borrowed EUR 1 billion on international financial markets

Lithuania successfully borrowed EUR 1 billion on international capital markets by issuing a 7.5 year Eurobond issue. The transaction attracted a lot of demand, and high-quality investors participated in it – the final order book for the issue of Eurobonds exceeded demand by four times and amounted to more than EUR 4 billion.

Ellex Lithuania team, consisting of Associate Partner Eglė Neverbickienė and Senior Associate Kristina Saukalienė, acted as legal adviser to the issuer, Lithuanian Government.

The 7.5-year Eurobond issue was distributed at a yield of 3.684 %, the issue price being 99.636 % of its nominal value. Annual interest rate of 3.625 % will be paid on this issue. The Eurobonds will be serviced on 20 May 2026 and redeemed on 18 November 2033.

Bank of America Securities, BNP Paribas, Erste Group Bank were selected as lead managers, and Luminor was given the role of co-lead manager.