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Sorainen Advises Banks on Lithuania’s EUR 1.75 Billion Eurobond

Sorainen Advises Banks on Lithuania’s EUR 1.75 Billion Eurobond

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The Vilnius office of Sorainen has advised dealers BNP Paribas, Citi, and Erste Group on Lithuania’s raising of EUR 1.75 billion by means of a 30-year Eurobond issue.

According to Sorainen,"these funds will finance this year’s borrowing needs, including next year’s planned USD 1.35 billion redemption of the Eurobond issue. Previously, Lithuania has issued bonds of the same duration in 2017 and 2019 when the annual interest rates were 2.1% and 1.625%, respectively. In contrast, interest on the just recently issued EUR 1.75 billion nominal value 30-year Eurobond issue is only 0.5%. The Eurobonds were distributed at a yield of 0.637% and the issue price was 96.27% of their nominal value."

Sorainen's team consisted of 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 TGS Baltic, working with Dentons' offices in the UK and Middle East, advised the Ministry of Finance of the Republic of Lithuania on the issuance. The TGS Baltic team consisted of Partner Vidmantas Drizga, Associate Partner Mantas Gofmanas, and Legal Assistant Kotryna Visockyte.