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Lithuania has borrowed EUR 450 million in foreign markets

Date

2016 09 15

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Vilnius, September 15. Lithuania has successfully priced an offering of EUR 450 million (nominal value) that will be consolidated and form a single series with the EUR 750 million Eurobond due 2035.

„The decision was driven by positive sentiment in the financial markets and our aim to fix into the low interest rate. This re-opening of our longest eurobond increases liquidity of the bond, therefore, price discovery exercise will be more efficient from now on. Proceeds from the offering will be used for general budgetary purposes as foreseen in the 2016 Borrowing Programme approved by the Government“, – Rasa Budbergytė, the Minister of Finance of the Republic of Lithuania said.  

The Eurobond has been issued at a yield of 1.132 per cent and issue price equal to 116.955 per cent of its face value. The settlement of the Eurobond will take place on 22 October 2016. Maturity date is 22 October 2035.

The transaction was lead-managed by Goldman Sachs International and J.P. Morgan.

Twenty-year maturity EUR 750 million Eurobond issued in October 2015 and bearing a 2.125 per cent coupon marked the first Lithuania’s Eurobond issue of such duration.

Public Relations Office
vrs@finmin.lt
Finmin.lrv.lt

Neither this announcement nor any copy of it may be taken or transmitted, directly or indirectly, into the United States, Australia, Canada or Japan. This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase or subscribe nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefore. The offer and the distribution of this announcement and other information in connection with the listing and offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement is not an offer for sale of any securities in the United States. Securities may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")) absent registration or an exemption from registration under the Securities Act. The Issuer has not registered and does not intend to register any portion of any offering in the United States or to conduct a public offering of any securities in the United States.

This announcement is directed only at (i) persons who are outside the United Kingdom or (ii) persons with professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.