Siauliu Bankas - Notification on material event

Šiaulių bankas has signed an operational agreement with the European Investment Bank to set up and manage EUR 200 million renovation fund

Šiaulių Bankas AB, company code 112025254, address Tilžės str. 149, Šiauliai, Lithuania.

On 29 December 2020, Šiaulių bankas (the Bank) signed an operational agreement with the European Investment Bank (the EIB) to set up and manage EUR 200 million multi-apartment building renovation fund (the Fund). The Fund will be able to finance the renovation and modernisation of up to 800 multi-apartment buildings in Lithuania.

The Bank is currently in the process of setup of the Fund, negotiations with senior and junior debt providers, equity investors, with the aim of reaching final agreements within Q2 2021 and starting to issue modernisation loans in the second half of 2021.

The Bank is a key player and renovation market leader (60% market share) with more than 9-year participation in modernisation of multi-apartment buildings programs and cooperation with the EIB. Modernisation loans signed amounts more than EUR 560 million (o/w more than EUR 300 million are own funds of the Bank). The Bank has financed up to 2000 multi-apartment buildings.

Additional information shall be provided by
Communication specialist
Monika Rožytė, +370 686 79234, monika.rozyte@sb.lt