Government Securities Auctions

Lithuanian domestic Government securities are classified as:

  • T-bills - short-term (one-year or less) Government securities. T-bills are sold at a discount and their nominal value is repaid on the maturity date. Interest calculation method used - Act/360.
  • Bonds and eurobonds - Government securities that have maturity longer than one year. Bonds are sold with annual coupon payments and their nominal value and last coupon are paid on the maturity date. Interest calculation method used - Act/Act (ICMA).

The Ministry of Finance of the Republic of Lithuania plans Lithuanian Government securities auctions and sets Government securities’ characteristics. The auctions are organised by Nasdaq Vilnius and held according to the auction schedule.

Lithuanian Government securities are sold in competitive multi-price auctions. The auctions are usually held on Mondays and the bids are accepted until 10:30 am. Non-competitive bids are also accepted at the auction, however, their amounts are limited usually to EUR 0.5 million per one auction participant (maximum amount of non-competitive bids are set for each auction). The non-competitive bids are settled at the weighted average yield rate set in the competitive multi-price auction part.

The settlement for securities in the primary market takes place two business days after the T-bill or bond auction (T+2) or five business days after the eurobond auction (T+5). The settlement for the Government securities in the primary market is organised by the Central Securities Depository of Lithuania (Nasdaq CSD SE Lithuanian branch) and is compliant with the Delivery versus Payment principle. All Government domestic securities are registered at the Nasdaq CSD SE Lithuanian branch and included in the official list of Nasdaq Vilnius. Secondary trading in auctioned Government securities takes place on Nasdaq Vilnius, according to its established rules, as well as outside the stock exchange.

In case of eurobond auctions, the settlement is organised by Nasdaq CSD SE Lithuanian branch via their link with Clearstream Luxembourg and the eurobonds are listed on the Luxembourg Stock Exchange.

Only banks and financial brokerage companies that met requirements set by the Ministry of Finance for auction participants and had signed Government Securities Auction Participant Agreements with the Ministry of Finance were allowed to participate at the auctions. Currently, participants of the Government securities auctions are as follows:

  • AS "Citadele Banka"

  • Luminor Bank AS Lithuanian branch

  • ERSTE Group Bank AG

  • AB SEB bankas

  • AB Šiaulių bankas

  • "Swedbank", AB

  • "Swedbank" AS

Outstanding as of 27 September 2023

ISIN Code Settlement Date of the Issue / First Auction Redemption Date Coupon, % Amount, Eur
LT0000650053 2019-04-17 2024-04-17 0.4 585,000,000.00
LT0000630089 2020-12-02 2024-06-02 0.0 970,000,000.00
LT0000670028 2017-08-23 2024-08-23 0.7 330,000,000.00
LT1000610014 2014-11-06 2024-11-06 2.1 265,000,000.00
LT0000630097 2022-05-04 2025-08-04 1.3 620,000,000.00
LT0000670036 2018-11-21 2025-11-21 0.8 330,000,000.00
LT0000650061 2020-07-22 2026-01-22 0.0 360,000,000.00
LT0000650079 2021-06-02 2026-06-02 0.0 470,000,000.00
LT0000630105 2023-08-02 2026-08-02 3.9 185,000,000.00
LT0000670044 2019-11-27 2026-11-27 0.1 345,000,000.00
LT0000610073 2017-04-26 2027-04-26 1.1 315,000,000.00
LT0000650087 2022-07-13 2027-07-13 2.3 630,000,000.00
LT0000670051 2021-03-03 2028-03-03 0.0 490,000,000.00


Green Bonds

2018-05-03 2028-05-03 1.2 68,000,000.00
LT0000610081 2019-08-28 2029-08-28 0.2 400,000,000.00
LT0000670069 2022-06-15 2029-12-15 2.4 420,000,000.00
LT0000612012 2020-02-12 2032-02-12 0.3 244,000,000.00


More about eurobonds can be found here.