We advised the investment company Atsinaujinančios energetikos investicijos, managed by Lords LB Asset Management, on a non-public four-year green bond issue, with a total value of EUR 25 million at an annual 5% annual coupon. The main distributor of the bond issue was Luminor bank.
First private sector green bond issue in the field of renewable energy in Lithuania
The European Bank for Reconstruction and Development (EBRD) and other 8 institutional investors were among the bond buyers. Private investors also purchased bonds for more than EUR 6.5 million.
Under the terms of the issue, funds received will be used in accordance with Atsinaujinančios energetikos investicijos’ public Green Bond Framework. Investments will be mainly used for solar and wind energy projects in the Baltics and Poland.
“This is the first private sector green bond issue in the field of renewable energy in Lithuania. The enormous trust demonstrated by institutional and private investors in the Baltic region is very important for us and the market. The implementation of renewable energy projects requires a lot of both borrowed and equity capital, and therefore, a well-functioning capital market is one of the key factors for the development of this sector,” says Tomas Milašauskas, manager of Atsinaujinančios energetikos investicijos.
Our services and project team
Our team, consisting of partner Augustas Klezys and senior associate Dalia Augaitė, advised the client on all legal issues related to the bond issue.