Dentons has advised the Republic of Lithuania on the issuance of two EUR-denominated benchmark bonds under its Euro Medium Term Note Program. TGS Baltic reportedly advised the Republic of Lithuania as well. Freshfields and Sorainen reportedly advised the underwriters.
According to Dentons, “The Republic of Lithuania updated its Euro Medium Term Note Programme in January by way of a supplement and successfully completed two separate bond issuances: EUR 1 billion 2.875% notes maturing in 2030 and EUR 1 billion 3.625% notes maturing in 2040. The notes have ratings of A2, A, and A by Moody's, S&P, and Fitch, respectively, and are listed on the regulated market of the Luxembourg Stock Exchange.”
Moreover, Dentons reports that “the Ministry of Finance of the Republic of Lithuania forecasts international bond issuance in the region of EUR 6 billion in 2025 as a result of increased defense spending and these two series, with an order book of more than EUR 4.5 billion and little to no new issue premium, demonstrate Lithuania's appeal as a high-quality sovereign issuer.”
In 2024, Dentons advised the Republic of Lithuania on a EUR 1 billion bond issuance (as reported by CEE Legal Matters on July 17, 2024) and on a EUR 1.5 billion bond issuance (as reported by CEE Legal Matters on February 20, 2024). In 2023, Dentons advised the Republic of Lithuania on a EUR 1.25 billion bond issuance (as reported by CEE Legal Matters on June 20, 2023). In 2022, the firm advised the Republic of Lithuania on its EUR 1.2 billion bond issuance (as reported by CEE Legal Matters on November 8, 2022).
The Dentons team included London-based Partner Nick Hayday, Associate Ed Varney, and Paralegals Tania Karda and Annabel Clifford.
