OREANDA-NEWS. January 29, 2014. SORAINEN Lithuania assisted the Ministry of Finance of the Republic of Lithuania in borrowing EUR 500 million in the international financial markets for a 10-year period at the lowest coupon in the last decade - 3.375%.

The borrowing rate was determined by the positive attitude of investors towards the outlook for the Lithuanian economy and a favourable international environment. The borrowed funds will be allocated for financing a decreasing budget deficit and repaying existing debt obligations.

Lithuania has placed an issue of EUR 500 million 3.375% notes due 2024. The notes with a nominal value of EUR 500 million have been issued at a yield of 3.46%, with their issue price accounting for 99.292% of their nominal value.

BNP Paribas and Barclays were chosen as the lead-managing banks.

Partner Tomas Kontautas and associate Agne Sovaite advised the client on Lithuanian law-related issues.