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Ministry of Finance Has Selected Lead Managers for the upcoming Eurobond Issue

Date

2007 12 18

Rating
0

Vilnius, December 18. The Ministry of Finance, in preparation for tapping next year the EUR 600 million nominal value Republic of Lithuania bond issue placed on international markets in October of the current year by approximately EUR 400 million, decided to issue a lead management mandate to the international banks Citibank and Credit Suisse.

On December 7 the Ministry of Finance sent to international banks requests for proposal to provide lead management service for approximately EUR 400 million nominal value bonds to be issued on international markets next year. The proposals were submitted by ten foreign banks. After their evaluation, the Ministry of Finance decided to issue a lead management mandate for issue of Eurobonds next year to the international banks Citibank and Credit Suisse. These banks have been selected as they proposed the lowest issue costs and Eurobond placement recommendations that were the closest to conformity with the State Debt Management Strategy.

The 10-year maturity Eurobond issue of the nominal value of EUR 600 million placed in October this year is planned to be tapped in the first quarter of the subsequent year. The major part of borrowed funds is envisaged to be designated for redemption of GS issued previously.

 

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