Concerning the intention of the AB “Ignitis grupė” to lend up to 293 million euros to the UAB “Ignitis renewable”
We inform you that the Supervisory Board of AB “Ignitis grupė” (hereafter – Company) has approved the loan agreement, which would not exceed 293 million euros, (hereafter – Loan) with UAB “Ignitis renewable ”.
Loan funds will be used, if necessary, to acquire and develop renewable energy projects and refinance outstanding loans. The actual scope and use of funds will largely depend on market conditions and the availability of investment projects that meet return expectations. The loan is in line with the priorities and development objectives of green production set out in the Company’s strategy.
The Loan will be allocated from green bond funds raised by the Company and from its own funds. The repayment period of the loan – no more than 10 years from the time of the money transfer. The Loan may be repaid before the end of the Loan repayment period. This agreement does not include additional measures ensuring compliance with obligations. The other terms and conditions of the loan are confidential.
The Audit Committee of the Company’s Supervisory Board, after analyzing the information provided on the item on the agenda, issued an opinion on the conclusion of the Loan Agreement on the basis of which there is no to assume that the envisaged Loan Agreement is not performed in accordance with market conditions or that it is unfair or contrary to the interests of shareholders, who are not party to the envisaged agreement.
The agreement will be signed in the near future, the Company will not notify its signing in a separate material event notice.
Artūras Ketlerius, Head of Public Relations, tel. +370 6 207 6076, e-mail [email protected]