We advised REFI Sun, a company of the renewable energy investment fund INVL Renewable Energy Fund I, in preparation for a public bond offering program of up to EUR 25 million and in the bond issuance process.
In the initial placement, REFI Sun publicly issued bonds worth EUR 15 million to retail and institutional investors from the Baltic States. The total amount of applications received reached EUR 15.636 million. A total of 567 investors have acquired REFI Sun bonds.
The raised funds are financing renewable energy projects in Poland and Romania. The fund is developing a portfolio of solar power plants with a capacity of 389 MW in these countries. Additionally, the funds are used to refinance previously obtained loans.
REFI Sun is a company managed by INVL Renewable Energy Fund I, developing and financing solar power projects in Central and Eastern Europe. The company implements green energy expansion by raising capital through bond issuances and investing in the construction of new solar parks as well as refinancing existing projects.
Our team and services
Our team, which included Partner Augustas Klezys, Counsel Lina Aleknaitė-van der Molen, and Associate Grėta Šumskytė, advised the client on the drafting and approval by the Bank of Lithuania of the Base Prospectus, notification of it to the supervisory authorities in Latvia and Estonia, the preparation of the Final Terms and on other regulatory matters relating to the issue and public offering of the bonds.
