Ignitis Group issues €300 million in green bonds

Ignitis Group has issued €300 million in green bonds with a fixed annual interest rate of 4.5 percent. The bonds are set to mature on October 27, 2031. The issuance was oversubscribed by 3.3 times, with a final order book exceeding €1.0 billion involving more than 80 institutional investors from Europe and other regions.

The group expects the bonds to receive 'Baa1' and 'BBB+' credit ratings from Moody's Ratings and S&P Global Ratings, respectively. Proceeds from the issuance will be used to finance or refinance long-term assets, capital, and operating expenses. The bonds are planned for listing on the Nasdaq Vilnius and the Luxembourg Green Exchange.

Separately, Ignitis Group is discussing the future of its 'Curonian Nord' offshore wind farm project. The group has requested that the Ministries of Energy and Finance postpone the project's implementation schedule to allow for adjustments to changing circumstances. The Lithuanian Energy Minister noted that discussions are ongoing with Polish counterparts regarding interest in developing the wind park.