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Sorainen Advises Joint Lead Managers on Lithuania’s EUR 2 Billion Eurobond Issue

Sorainen Advises Joint Lead Managers on Lithuania’s EUR 2 Billion Eurobond Issue

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Sorainen has advised joint lead managers BNP Paribas, Citi, and Erste Group on a dual-tranche Eurobond issue by the Republic of Lithuania – a 5-year Eurobond of EUR 750 million face value and a 10-year Eurobond of EUR 1 billion 250 million face value. The issuance is aimed at improving the liquidity of Lithuania’s treasury.

According to Sorainen, “a coupon of 0.25% annual interest will be paid for the 5-year Eurobond of EUR 750 million face value. The Bonds have been issued at a yield of 0.345% and an issue price equal to 99.530% of face value. Lithuania will pay 0.750% annual interest for the 10-year issue (EUR 1.25 billion face value). The bonds have been issued at a yield of 0.829% and an issue price equal to 99.245% of face value.”

Sorainen’s team included Partner Tomas Kontautas, Senior Associates Dalia Augaite and Agne Sovaite, and Associate Rimantas Bendorius.

Editor's note: After this article was published CEE Legal Matters learned that Dentons and TGS Baltic had advised the Ministry of Finance of the Republic of Lithuania.

Dentons' team included Partner Nick Hayday, Associates Moeen Qayum and Kathryn Finch, and Trainee Gemma Dreelan, while TGS Baltic's team included Partner Vidmantas Drizga, Associate Partner Mantas Gofmanas, and Junior Associate Kotryna Visockyte.

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