Siauliu Bankas international bonds

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

In August 2024, EBRD invested EUR 23 million in senior preferred bonds placed by Siauliu Bankas AB ("SB") as part of EUR 300 million inaugural international issuance listed on Euronext Dublin stock exchange. The bonds have a 4.25-year remaining maturity with a call option in 3.25-year time.
In March 2025, EBRD invested EUR 40 million in senior preferred bonds placed by SB as part of another EUR 300 million international issuance listed on Euronext Dublin stock exchange. The bonds have a 5.25-year remaining maturity with a call option in 4.25-year time.

Project ID 55454

Status Signed

Location

Lithuania

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Tomas Varenbergas
tomas.varenbergas@sb.lt
www.sb.lt
Tilzes Street 149 Siauliai, LT-76348 Lithuania

Project ID 55454

Status Signed

Location

Lithuania

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

24 Jul 2024

Disclosure date

06 Sep 2024

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Siauliu Bankas international bonds (Lithuanian) (PDF, 0.15MB)

Project Description

Project Objectives

The project supports the strengthening of SB's climate practices and the resilience of a systemically important institution in Lithuania and contributes to the capital market development in the country. The project also aims to support green economy in Lithuania.

Transition Impact

ETI score:67

expected transition impact of the project stems from its contribution to the Well-Governed and Resilient transition qualities.

As part of the investments, the EBRD will assist SB in developing a Paris Alignment Transition Plan, designed to integrate climate considerations across the bank's business operations and enhance its resilience to climate-related risks. The plan will also improve the bank's disclosure practices and strengthen its governance framework, benefiting all bank's stakeholders.

The project contributes the Resilient transition quality by contributing to the resilience of the financial sector in Lithuania by (i) deepening of the debt capital markets and (ii) supporting a systemic institution to improve its loss absorbing capacity ensuring the continued flow of credit to the Lithuanian economy.

Client Information

SIAULIU BANKAS AB

SB is the fourth largest bank in Lithuania with total assets of EUR 4.9 billion as of 9M2024 and the market share of ca. 10% in lending. SB has been historically focused on lending to SMEs in Lithuania (ca. 50% of the loan book). SB is listed on NASDAQ-Baltic, with a market capitalisation of ca. EUR 550 million as of 5 December 2024. SB is rated Baa1 by Moody's with a stable outlook. The Bank currently holds a 7.25% stake in SB.

EBRD Finance Summary

EUR 63 million

Total Project Cost

EUR 600 million

Additionality

EBRD's participation as a stable and reputable investor is considered instrumental for the SB's first issuance at the international market. In addition, SB commits to allocating the amount of the proceeds from the EBRD investment to green projects in line with the Bank's Green Economy Transition ("GET") eligibility criteria.

Technical Cooperation and Grant Financing

None

Company Contact Information

Tomas Varenbergas
tomas.varenbergas@sb.lt
www.sb.lt
Tilzes Street 149 Siauliai, LT-76348 Lithuania

PSD Last Updated

07 May 2025

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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Siauliu Bankas international bonds

Overview

Project timeline

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Technical Cooperation and Grant Financing

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)

Siauliu Bankas international bonds

Overview

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Environmental and Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)