Siauliu Bankas second syndicated loan

Location:

Lithuania

Project number:

37211

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

18 Oct 2006

Status:

Completed

PSD disclosed:

15 Sep 2006

Project Description

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.

Transition Impact

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.

 

The Client

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.

 

EBRD Finance

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.

Project Cost

Up to EUR 12 million.

Environmental Impact

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.

Technical Cooperation

None.

Company Contact

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

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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Text of the PIP

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Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.