Šiaulių Bankas has issued a 20 million euro bond issue
Šiaulių Bankas has issued a 3-year 20 million euro bond issue. In the course of the year bonds are planned to be enrolled in trading on a regulated market.
"By issuing bonds we are striving to diversify the sources of the bank's financing - we will use the received funds to finance the bank’s standard activities. The last time the bank issued bonds eight years ago. We have changed a lot during this time and now we have the opportunity to test ourselves as an issuer of bonds that has recently joined the companies with investment grade, - says Donatas Savickas, Head of Finance and Risk Management Division of Šiaulių Bankas.
0.6 per cent annual interest shall apply to this 20 million euro bond issue. The bonds were placed private on 21 December 2017. In the next 12 months, it is planned to include the bonds in the Nasdaq Baltic Debt Securities List.
Šiaulių Bankas is the fourth largest bank in Lithuania in terms of loan and deposit portfolio. One of the key areas of the Bank’s activities is focus on lending to small and medium-sized businesses. Šiaulių Bankas also provides daily banking and financing services to private clients. This October credit rating agency Moody's rated Šiaulių Bankas with the investment grade Baa3.