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Lithuania borrowed in Swiss francs for the first time

September 20, 2012
Lithuania has successfully priced an offering of CHF 175 million 2.0 percent Notes due 2018. The transaction was lead-managed by Credit Suisse and BNP Paribas.

"It was new experience as Lithuania borrowed in Swiss francs for the first time. The results of the deal show the investors' confidence in our country and also opens new possibilities and alternative borrowing markets, " - Ingrida Šimonytė, Minister of Finance said.

The funds received from the issue will be used to redeem the EUR 1 billion Eurobond (issued in 2003 and re-opened in 2004) in March 2013.

For the same purpose Lithuania has also borrowed EUR 167 million in German financial market. The six-year (at annual interest rate of 3.40%) and ten-year (at annual interest rate of 4.03%) transactions took place earlier this month. The transactions were lead-managed by HSBC Trinkaus & Burkhardt AG.

By accumulating the reserve to redeem Eurobond in 2013 Lithuania has reduced the refinancing risk and next year's borrowing requirement.
  • Status
    redeemed
  • Country of risk
    Lithuania
  • Redemption (put/call option)
    *** (***)
  • Amount
    175,000,000 CHF
  • М/S&P/F
    — / — / —
Company — Lithuania
  • Full name
    Republic of Lithuania
  • Registration country
    Lithuania