Dentons and TGS Baltic have advised the Republic of Lithuania on the EUR 650 million issuance of 2.125% notes due 2032, pursuant to the country’s Euro Medium Term Note Program. Sorainen advised underwriters Barclays and BNP Paribas. Reportedly, Freshfields Bruckhaus Deringer advised the underwriters as well.
According to Dentons, “the notes, which are rated A2 by Moody’s, A+ by S&P, and A by Fitch are listed on the Luxembourg Stock Exchange. The proceeds of the notes will be used for the refinancing of indebtedness and general funding purposes of the Republic of Lithuania. This includes spending approved by the amendment to the Law on Budget 2022, in response to the impact of the Russian military invasion of Ukraine.”
Sorainen, TGS Baltic, and Dentons have also advised on the Republic of Lithuania’s earlier issuances, including a EUR 750 million Eurobond issuance in 2021 (as reported by CEE Legal Matters on September 15, 2021), a EUR 1.75 Billion Eurobond issuance in 2020 (as reported on August 5, 2020), and a EUR 650 million issuance in 2019 (as reported on June 25, 2019).
Dentons’ team included London-based Partner Nick Hayday, Senior Associate Victoria Wyer, Trainee Julian Ng, and Solicitor Apprentice Nia Powell.
Sorainen’s team included Senior Associate Dalia Augaite.
TGS Baltic’s team included Partner Vidmantas Drizga, Senior Associate Karolina Lapinskaite, and Junior Associate Kotryna Visockyte.