TGS Baltic has advised the European Investment Bank on amendments to its pre-financing and contingent loan agreements with Siauliu Bankas increasing the bank's investment from EUR 195 million to EUR 255 million for Lithuania’s multi-apartment building modernization program.
According to TGS Baltic, Siauliu Bankas has been active in financing these renovation projects for over 12 years, helping renovate more than 3,000 buildings with a total loan volume exceeding EUR 1.2 billion. The additional EUR 60 million in funding aims to further support Lithuania’s objective to modernize most of its multi-apartment buildings by 2050, reducing energy consumption and improving living conditions. “Siauliu Bankas launched the EUR 200 million SB Modernisation Fund 2, financed by Siauliu Bankas itself, the government, with the EIB as a fund manager, as well as Swedbank, the European Bank for Reconstruction and Development, and pension funds managed by the Siauliu Bankas Group in 2024.” (as reported by CEE Legal Matters on February 21, 2024).
In 2024, TGS Baltic also advised Siauliu Bankas on its EUR 300 million notes issuance (as reported by CEE Legal Matters on September 9, 2024).
The TGS Baltic team included Managing Partner Vilius Bernatonis, Associate Partner Sebastian Okinczyc, and Legal Assistant Enrika Gudzeviciute.
TGS Baltic did not respond to our inquiry on the matter.
