By Sarah Lizee
Olympia, Wash., April 30 – Lithuania auctioned €20 million of 1.2% green bonds due May 3, 2028 on Monday, according to a notice.
The weighted average accepted yield was 1.298%. The minimum offered yield was 1.2%, and the maximum accepted yield was 1.35%.
The total volume of competitive bids was €32.4 million, and the total amount of non-competitive bids was €1.5 million.
As previously reported, the sovereign intends to use the funds raised for modernizing apartment buildings to improve their energy efficiency. Apartment renovation and increased energy efficiency will contribute to reducing CO2 emissions and heating costs, according to a Nasdaq Baltic Market press release.
“This is the first issue of sovereign debt securities of its kind in the Baltics,” Saulius Malinauskas, president of Nasdaq Vilnius, said in the release.
“We are delighted by our long-term cooperation with Lithuania’s Ministry of Finance and we believe that the green bonds will help further stimulate investor interest in the Baltic region.”
The bonds will be admitted to the Baltic Bond List by Nasdaq Vilnius on Thursday.
| Issuer: | Lithuania
|
| Amount: | €20 million
|
| Maturity: | May 3, 2028
|
| Description: | Green bonds
|
| Coupon: | 1.2%
|
| Average accepted yield: | 1.298%
|
| Auction date: | April 30
|
| Settlement date: | May 3
|
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