The Republic of Lithuania launched a EUR 600m bond, as its first eurobond offering since joining the European Union in May 2004. The 3.75 per cent coupon was the lowest Lithuania achieved for an international debt issue and was placed at a yield of eight basic points above Euribor.
The notes are due in 2016. Demand for the issue exceeded EUR 4.0 billion. Shortly before the issue of the Eurobonds, Standard and Poor's upgraded Lithuania's rating outlook from stable to positive.
Joint lead managers Deutsche Bank AG and UBS Ltd were advised by UK lawfirm Linklaters.