TGS Baltic Advises EIB on EUR 60 Million Increase in Renovation Financing

TGS Baltic has played a pivotal advisory role for the European Investment Bank (EIB) concerning an increase in pre-financing and contingent loan agreements with Siauliu Bankas. This development results in an increased investment from EUR 195 million to EUR 255 million, aimed at furthering Lithuania's multi-apartment building modernization efforts. Siauliu Bankas has been at the forefront of financing these projects for over a decade, undertaking the renovation of thousands of buildings, with total loans surpassing EUR 1.2 billion. The added funding of EUR 60 million is strategically targeted at modernizing the majority of Lithuania’s multi-apartment buildings by 2050, addressing goals of energy efficiency and improved living standards. Furthermore, Siauliu Bankas has initiated the SB Modernisation Fund 2 in collaboration with governmental bodies, Swedbank, the European Bank for Reconstruction and Development, and pension funds, with the EIB acting as a key fund manager. Additionally, the firm had previously advised Siauliu Bankas in 2024 about a notable EUR 300 million notes issuance.