NewEuroMTS adds Lithuanian bonds


NewEuroMTS, the market for euro-denominated government securities of the May 2004 EU Accession States, today announced that the Republic of Lithuania became the third eligible issuer to have its bonds included in the market. As of today, Republic of Lithuania 4.50% 2013 bonds will join issues from Poland and Hungary in benefiting from the transparency and liquidity offered by NewEuroMTS and its market makers.

"Inclusion on NewEuroMTS will foster liquidity in our bonds and will help reduce the liquidity premium to which investors are currently subject," said Lukas Tursa, Director of the Lithuanian State Treasury Department. "We expect investors will therefore participate with increased confidence, which will in turn lead to lower funding costs."

Through NewEuroMTS, the following market makers will support Lithuania bonds:
  • Banca Nazionale del Lavoro
  • BNP Paribas
  • Caboto
  • Citibank
  • CSFB
  • Deutsche Bank
  • Dresdner Kleinwort Wasserstein
  • Goldman Sachs
  • ING Bank
  • JP Morgan Chase
  • KBC
  • Morgan Stanley
  • Société Générale
  • UBS
  • Unicredito Banca Mobiliare

Bonds currently benefiting from the system's tighter bid-offer spreads and depth of liquidity are: Republic of Hungary 4% 2010, 4.50% 2013 and 4.50% 2014; as well as the Republic of Poland's 3.875% 2009, 5.50% 2011 and 4.50% 2013. To be eligible for listing, bonds must be issued by the May 2004 EU Accession States, issued or tapped no earlier than 2 years prior to listing date, with a minimum maturity of 15 months, investment-grade rated or of good credit quality[1] and a minimum outstanding size of €1 billion.

"We are extremely pleased in the continued growth NewEuroMTS, which is already encouraging larger, more liquid bonds from EU Accession States issuers," said Gianluca Garbi, CEO of EuroMTS. "By providing liquidity and efficiency to these issuers, a more transparent and cohesive European marketplace will continue to develop."

[1] By any of the following rating agencies: Moody's, Standard & Poor, Fitch Ratings.

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