Notification on material event
Early redemption of the outstanding bonds
Šiaulių Bankas AB, company code 112025254, domicile address Tilžės st. 149, LT-76348 Šiauliai, Lithuania.
On 19 November 2019, the Board of Šiaulių Bankas AB decided to execute a call option with respect to EUR 20 million Bank’s Bond issue (ISIN code LT0000432015), i.e. to redeem all issued bonds on 21 December 2019 prior to their maturity date paying the investors the nominal value of the bonds and accrued interest.
The decision was made taking into account the bank's liquidity ratios and liquidity outlook, in accordance with the terms and conditions of the bond issue which are set in the Bond Prospectus of Admission to Trading on the Baltic Bond List of Nasdaq Vilnius AB.
During the bond term Moody's rating agency upgraded Šiaulių Bankas' long-term credit rating from Baa3 to Baa2 and currently the bank is able to attract funding at lower interest rates than these of the issued bonds to be redeem. Furthermore, the Bank focuses on attracting resources for the period of 3 years and longer.
Head of Markets and Treasury
Tomas Varenbergas +370 41 595 602, firstname.lastname@example.org