Energy, Energy Market, Financial Services, Lithuania

Today the Board of Ignitis Group approved the update of the Company’s Euro Medium Term Note programme with headline amount of up to EUR 1.5 bn and the Base Prospectus. A EUR-denominated 300 mln 10 year senior unsecured bond offering will follow, subject to market conditions.

“The energy of the future is inseparable from sustainable development and decarbonisation. Development of sustainable renewable energy projects in Lithuania and the region is top priority for the Ignitis Group in its long-term strategy. Entering the bond market again, we hope that Lithuanian and foreign investors will contribute to the implementation of environmentally friendly projects,” – says Darius Maikštėnas, Chairman of the Board and CEO of Ignitis Group.

Ignitis Group retains an attractive credit rating. After the annual credit ratings review, the international credit rating agency S&P Global Ratings just affirmed its BBB+ ratings for the Company. The assigned rating is one of the highest among the peer energy companies in the region.

Global Investor Call and a series of telephonic investor calls across Europe will be organized in the coming days.

Bond issue is planned to be listed on the Luxembourg and the Nasdaq Vilnius Stock Exchanges. Ignitis Group has mandated BNP Paribas, Citi and J.P. Morgan as Joint Lead Managers and Joint Bookrunners and Luminor as Co-manager.

In 2017 and 2018 the Company successfully placed two issues of Green Bonds. EUR 600 mln in total were borrowed for the development of green energy projects for a period of 10 years. The proceeds from the issues are being used to finance investment in wind energy, enhancement of efficiency of the power distribution grid, as well as the projects of energy production from waste and biomass.