Lithuania’s Siauliu bankas prepares tap issue of up to €50 million

Chicago, Oct. 13 – Siauliu bankas AB is looking to institutional and professional investors for a €50 million tap in its second bond issue in 2023, according to a notice.

The bank expects to place the bonds by the end of the year.

The bonds will be issued under the bank’s €250 million medium-term note program.

The purpose of the issue will be to meet regulatory capital requirements.

"This year the bank successfully launched its subordinated bond issue, which attracted a very high level of investor interest. This time we will aim to raise funds that will help us achieve an even more efficient capital structure and meet MREL requirements,” the bank’s head of investment management Tomas Varenbergas said.

The bank is based in Siauliai, Lithuania.

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