Lietuvos energija’s EUR 300 million green bonds issue, advised by Sorainen, won an award at the Climate Bonds 2018 yearly conference in London. The company received a Green Bond Pioneer Award for being the first one to develop a green bond financing tool in Lithuania. Funds attracted using green bonds can only be used for investing in means of energy production and technologies reducing climate change.
Says Darius Kašauskas, Board Member and Finance and Treasury Director at Lietuvos energija: “The Company’s performance during the last few years has demonstrated to investors the reliability and financial strength of Lietuvos energija. In that context, we took the opportunity to diversify the Lietuvos energija Group debt portfolio on highly advantageous terms. This successful début and the Green Bond Award we just received from the Climate Bonds Initiative helps build a strong reputation for Lietuvos energija on the international financial markets.”
The successfully placed Lietuvos energija EUR 300 million and 10-year maturity bond became both the largest and the longest-maturity bond ever offered by a Lithuanian company as well as the largest and longest-maturity green corporate Eurobond among issuers from Central and Eastern Europe.
Lietuvos energija’s green bonds issue also attracted the attention of International Financial Law Review experts, who presented Sorainen with the Baltic Law Firm of The Year award in April 2018. This was among the major deals that brought the award to Sorainen.