Šiauliu Bankas has successfully placed EUR 50 million note issue on the international market

THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER, INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF AKCINE BENDROVE ŠIAULIU BANKAS.

Šiauliu Bankas has successfully placed EUR 50 million issue of Fixed Rate Reset Perpetual Additional Tier 1 Temporary Write Down Notes.

The annual fixed rate coupon on the notes up to the reset date will be 8.75 %. The nearest reset date is set after 5 years. Settlement will take place on 17 October 2024. It is intended to list the notes on the Global Exchange Market multilateral trading facility operated by Euronext Dublin.

The notes have been allocated to almost 20 institutional and professional investors, mostly from UK.

"We have made another significant step for both the bank and the Lithuanian capital market being the first issuer in the country to issue AT1 notes. We are grateful to our international investors, who consistently show confidence in the bank's prospects.

This issue strengthens and optimises capital structure of the bank, allowing us to continue to grow rapidly and sustainably and to implement our new dividend policy. We strive to ensure high returns for shareholders and to increase the bank's attractiveness to investors," says Tomas Varenbergas, Board Member, Head of Investment Management Division of Šiauliu Bankas.

The proceeds of the notes will be used for general corporate purposes, including to strengthen funding structure of Šiauliu Bankas, meet existing and future minimum own funds and eligible liabilities (MREL) targets, and improve its capital position.

The notes are rated Ba3 by the international rating agency Moody's.

Relevant stabilisation regulations including FCA/ICMA will apply.

Šiauliu Bankas mandated Goldman Sachs Bank Europe SE as Lead Manager.

Šiauliu Bankas as the issuer was advised on legal matters by Dentons UK and Middle East LLP and TGS Baltic as lead issuer’s legal counsel. The Lead Manager was advised by Linklaters LLP and Sorainen on legal issues.

This communication is not an offer of securities or investments for sale nor a solicitation of an offer to buy securities or investments in any jurisdiction where such offer or solicitation would be unlawful. No action has been taken that would permit an offering of securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

Additional information:

Tomas Varenbergas
Head of Investment Management Division
tomas.varenbergas@sb.lt