London—Dentons has advised the Republic of Lithuania on the issuance of €1.25 billion 3.875% Notes due 2033, pursuant to the Republic of Lithuania's Euro Medium Term Note Programme. 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 for general funding purposes of the Republic of Lithuania.

Dentons' London-based Capital Markets partner, and head of Dentons' Banking and Financial Services Division, Nick Hayday said: "We are delighted to continue to support the experienced Ministry of Finance team and the joint lead managers in skilfully maximising a window in the primary markets for this successful bond issuance. This transaction demonstrates our continued commitment to Lithuania and our practice in Central and Eastern Europe."

Nick Hayday and Capital Markets partner Victoria Wyer led on the transaction with assistance from associate Zeeshan Hussain and trainee Daniel Kaye.

TGS Baltic acted as Lithuanian counsel to the Republic of Lithuania. Freshfields Bruckhaus Deringer LLP acted as international counsel to the underwriters and Sorainen acted as Lithuanian counsel to the underwriters.

This is the latest in a series of bond issuances on which Dentons has advised the Republic of Lithuania, the most recent of which were a €900 million bond issuance and a €300 million tap issuance in October 2022. Read the full press release here.

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