Agriculture, Financial Services, Lithuania, Markets and Companies

He added that the company's goal is not to issue bonds worth 20 mln euros specifically as the issue should be smaller. The bonds will be most likely issued in the Baltic states and Scandinavian countries.

"There's no need to issue 20 million euros. That's the top amount the company had agreed on with the banks, but it will definitely not reach the maximum amount," Juscius told LETA/BNS.

The AUGA Group CEO said the issue would probably be executed in several stages.

The received funds will be invested into organic farming, and some of them will be spent on the repayment of existing loans, Juscius said.

The company has bank loans worth 13.829 mln euros at the end of last year.

AUGA Grouo said it's investing into the reduction of methane, soil and fossil fuel emissions.

The initial part of the bond issue will not be public, with the first emission part to be issued by the end of this year. The company will aim to have all such issued bonds listed on the Nasdaq Baltic bond market.

The company has selected AS LHV Pank, registered in Estonia, as an advisor as well as arranger and manager for the contemplated bond issue.

AUGA Group posted 28.8 mln euros in revenues the first half of this year, up 15% from the same period last year. And its EBITDA jumped 53.2%  to 6.28 mln euros.