AB "Ignitis grupÄ--" Regarding Ab Ignitis Grup Loan To Uab Ignitis Renewables

 
TIDMIGN 
 
   AB Ignitis Grup (hereinafter -- Ignitis Grup or the Company) informs 
that on 27 November 2020 the Supervisory Board of the Company approved 
the Agreement between Ignitis Grup and UAB Ignitis Renewables to give a 
loan of up to EUR 83m (hereinafter -- the loan). 
 
   The Audit Committee of the Company's Supervisory Board, after analyzed 
the information provided by the Company on the issue under consideration, 
submitted an opinion to the Company regarding the conclusion of this 
Loan Agreement. In the opinion of the Audit Committee, there is no 
reason to think that the proposed Loan Agreement would be concluded not 
according to market terms or would be unfair to the shareholders of the 
Company who are not parties to the proposed transaction. 
 
   The loan will be allocated from the green bond funds raised by the 
Company. The stated date for repayment -- 10 July 2028. The loan can be 
repaid before the deadline of the loan. 
 
   The loan will secure financing for the development of the wind farm 
project in Ma eikiai region (hereinafter -- Ma eikiai wind farm) 
developed by UAB VVP Investment, which is controlled by UAB Ignitis 
Renewables. 
 
   Ma eikiai wind farm will comprise 14 wind turbines, which will have a 
total operational capacity of approximately 63 MW. Construction is 
estimated to be completed by the end of 2022. 
 
   The Agreement will be signed in the near future, the Company will not 
inform about its signing in a separate notice about material event. 
 
   Art ras Ketlerius, Head of Public Relations 
 
   Tel. [phone] 
 
   E-mail 
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(END) Dow Jones Newswires

November 27, 2020 09:56 ET (14:56 GMT)

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