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Sorainen and TGS Baltic Advise on Siauliu Bankas EUR 85 Million Note Issuance

Sorainen and TGS Baltic Advise on Siauliu Bankas EUR 85 Million Note Issuance

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Sorainen has advised the Luminor Bank on Siauliu Bankas’ EUR 85 million issuance of restricted senior preferred notes. TGS Baltic advised Siauliu Bankas.

According to Sorainen, “Siauliu Bankas completed a tap issue of EUR 85 million of last year's four-year senior preferred 1.047% coupon bonds. With a tap issue, the amount of the total outstanding bonds increased from EUR 75 million to EUR 160 million. The bonds were issued under the EUR 250 million EMTN Programme dated October 25, 2022, and are expected to be listed on the Nasdaq Baltic Debt Securities List.”

Sorainen also advised the Luminor Bank on Siauliu Bankas initial EUR 75 million issuance, last year (as reported by CEE Legal Matters on October 13, 2021).

Sorainen’s team included Partner Augustas Klezys and Senior Associate Agne Sovaite.

TGS Baltic's team included Partner Vidmantas Drizga, Associate Partner Dalia Augaite, Senior Associate Karolina Lapinskaite, and Associate Kotryna Visockyte.

Editor's Note: On December 13, 2022, TGS Baltic announced that EUR 160 million worth of bonds issued by Siauliu Bankas is being traded as of December 9.

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