Project description
and objectives:
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The proposed project will assist Siauliu Bankas (“SB”) in accessing the
international syndicated debt market. The second syndicated loan will improve
the bank’s asset-liability structure and diversify its funding base enabling
SB to continue expansion of its lending activity and implementation its
business plan. The funds will be used to provide medium term loans to SB’s
private sector corporate customers, most of which are SMEs.
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Transition impact:
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The proposed project will have positive impact on the Lithuanian economy by
supporting the development and expansion of a strong regional bank focused on
servicing SMEs. By increasing SB’s visibility in the international syndicated
debt markets, the project will enable the client to raise longer term funding
independently in the future.
By promoting better access of local companies to medium term finance, the
proposed project will also increase financial intermediation in Lithuania,
especially in the regions outside the capital city, where SB’s business is
focussed.
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The client:
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AB Siauliu Bankas (“SB”) is the sixth largest bank in Lithuania with total
assets of EUR 358 million and equity of EUR 36.8 million.
SB is rated B+ (stable) by Fitch IBCA and Moody’s Ba3.
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EBRD finance:
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Senior debt for on-lending to private sector corporate customers in the
aggregate amount of up to EUR 12 million with an A/B loan structure, B loan to
be syndicated.
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Total project cost:
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Up to EUR 12 million.
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Environmental impact:
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Screened FI. SB is familiar with EBRD’s environmental requirements from
earlier operations with the Bank including the SME credit line. Under the
project SB is required to apply environmental procedures in accordance with
EBRD’s Environmental Procedures for Local Banks (including the Environmental
Referral List and Exclusion List). In implementing these procedures SB will
assess potential environmental issues associated with sub-projects, which are
required to comply, at a minimum, with local/national health, safety,
environmental and public consultation requirements.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Mr Donatas Savickas
Member of the Board, Deputy Chairman of the Board
149
Tilžės Street
Siauliai
LT-76348
Lithuania
Telephone: +370 41 595 602
Fax: +370 41 430 774
Email: d.savickas@sb.lt
Website: www.sb.lt
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EBRD contact:
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Ieva Grauzinyte, Operation Leader: grauzini@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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