Lithuania takes advantage of the low interest rate environment to borrow EUR 550 million at favourable terms

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2017 11 08

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Lithuania reopened two Eurobonds issues of 10 years and 30 years, both issued initially on May, 2017, and issued EUR 350 million and EUR 200 million tranches respectively in the international capital markets today.

„This transaction completes our borrowing programme in the international capital markets. We have used low  interest rate environment to secure cheap refinancing of Eurobonds that mature in February next year“, – Lithuanian Finance Minister Vilius Šapoka said.

Ten-year EUR 1.1 billion Eurobond has the lowest coupon in the country’s history – 0.95 per cent. The notes have been issued at a yield of 0.848 per cent and issue price equal to 100.645 per cent of their face value.

Thirty-year EUR 750 million Eurobond have the 2.10 per cent. coupon rate. The notes have been issued at a yield of 1.906 per cent and issue price equal to 105.925 per cent of their face value.

The transaction was lead-managed by Banca IMI and J.P. Morgan.

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