Bonds of INVL Renewable Energy Fund I-managed REFI Sun listed on First North market
The EUR 15 million issue of bonds successfully placed by REFI Sun, a company of the INVL Renewable Energy Fund I, which invests in renewable energy projects and is managed by INVL Asset Management, the leading alternative asset manager in the Baltics, was included for trading on the Nasdaq Vilnius stock exchange’s First North alternative securities market as of 30 September.
REFI Sun distributed the EUR 15 million of 2.5-year bonds with an 8.5% annual interest rate to retail and institutional investors in the Baltics in mid-August this year.
The fund is using the bond issue to finance renewable energy projects in the high-growth potential markets of Poland and Romania, where it is developing a portfolio of solar power plant projects with a capacity of 389 megawatts (MW), and to refinance previously obtained loans.
The Bank of Lithuania has approved the base prospectus of a programme for the public offering of up to EUR 25 million of REFI Sun bonds. The programme stipulates that the company, which is managed by the fund, may issue non-convertible euro-denominated debt securities with a maturity of up to 2.5 years. The INVL Renewable Energy Fund I will provide a guarantee to all holders of these REFI Sun bonds.
About the INVL Renewable Energy Fund I
The INVL Renewable Energy Fund I was established on 20 July 2021 by INVL Asset Management, the leading alternative asset manager in the Baltic States, as a sub-fund for informed investors. It invests in early- and mid-stage renewable energy projects (solar), including the construction of new power plants, the development and/or acquisition of the infrastructure necessary for the operation of power plants, and effective management of existing power plants in the European Union and member states of the European Economic Area.
INVL Asset Management is part of Invalda INVL, the leading Baltic asset management group.
About Invalda INVL group
Invalda INVL is the leading Baltic asset management group with a track record spanning over 30 years. The group’s companies manage or have under supervision EUR 2 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. The group’s scope of activities also includes family office services in Lithuania, Latvia and Estonia, management of pension funds in Latvia, and investments in global third-party funds.
Important notice
This is an informational marketing communication, which does not and cannot be construed as an offer to purchase units of a collective investment undertaking, bonds, or other securities, nor as an investment recommendation or investment research, as it has not been prepared with regard to the investment objectives, financial situation, or needs of any particular individual investor.
The information presented in this notice is intended solely for general understanding and should not be considered complete or exhaustive. No person may rely on the information provided herein for any purpose, nor on its accuracy, correctness, or completeness. The content of this communication should not be construed as legal, financial, or tax advice.
This communication is not an offer to sell or a solicitation to buy any securities in any jurisdiction, nor is it a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017. Any subscription or acquisition of the securities referred to in this communication – i.e., bonds – may be carried out solely on the basis of the information provided in the offering prospectus. The information in this communication is subject to change. Before subscribing for or acquiring any bonds, persons reading this communication should ensure that they fully understand and accept the risks outlined in the Prospectus. Under no circumstances should any person rely on the information in this communication or on its accuracy or completeness.
This communication does not constitute and should not be construed as advice or an offer to accept any offer to subscribe for any bonds or other securities. Neither this communication (nor any part thereof) nor its distribution should form the basis of or be relied upon in connection with any contract relating thereto. This communication is not a recommendation in relation to any potential offer. Persons considering an investment should consult an authorized/licensed person who specializes in providing investment advice. Investments related to this communication may involve a significant risk of loss of the entire invested amount. The value of bonds may both decrease and increase. Potential investors should consult their financial or other advisers on the suitability of any potential offer to them.
