Regarding the AB “Ignitis grupė” intention to loan up to 293m euros to UAB “Ignitis renewables”
We inform that the Supervisory Board of AB “Ignitis grupė” (hereinafter – Company) approved the loan agreement, which would not exceed 293m euros, (hereinafter – Loan) with UAB “Ignitis renewables”.
The funds from the loan will be used, if needed, to acquire and develop renewable energy projects and refinance the current loans. Actual scope and use of the funds will depend in large part on the situation in the market and the supply of investment projects meeting the returns expectations. The lending complies with the green generation development priorities and goals set out in the Company’s strategy.
The Loan will be allocated from the green bond funds raised by the Company and its equity. The Loan repayment period – no longer than 10 years from the moment of the money transfer. The Loan can be repaid before the end of the Loan repayment period. This agreement does not include additional measures ensuring the fulfilment of obligations. Other Loan terms and conditions are confidential.
The Audit Committee of the Supervisory Board of the Company, after analysing the information provided on the agenda item, submitted an opinion regarding the conclusion of the Loan agreement based on which there is no basis to assume that the planned Loan agreement is not conducted according to the market conditions or that it is unfair or not in the interests of shareholders, who are not a party of the planned agreement.
The agreement will be signed in the near future, the Company will not inform about its signing in a separate material event notice.
Artūras Ketlerius, Head of Public Relations, tel. +370 6 207 6076, email email@example.com