Luminor congratulates Ignitis Group on EUR 300 million Eurobonds issue

On 14 May, Ignitis Group announced an issue of Eurobonds in the size of EUR 300 million with an annual interest rate of 2.00 % and at the yield of 2.148 %.

The raised funds will be used by Ignitis grupė, former Lietuvos Energija, to implement the group's goals in developing green energy and ensuring the reliability and efficiency of the distribution network, as well as to refinance existing debts.

The issued bonds will be listed on the Luxembourg and AB Nasdaq Vilnius stock exchanges. Luminor Bank acted as the Co-Manager and the Dealer of the transaction.

Head of the Markets Department of Luminor Bank Paulius Žurauskas said that this transaction marks a successful comeback to the debt capital markets by Ignitis Group following two successful EUR 300m 10-year Green bond trades in 2017 and 2018 and a re-branding in September 2019.

“Considering the high tension and uncertain environment that credit markets operate in these days, as well as an exceptionally busy week with a large amount of good quality corporate debt supplied, I would describe this offering of notes as highly successful. Ignitis Group had to compete for demand from international investors with very well established European borrowers like E.ON, Deutsche Post and Daimler,” Žurauskas said.

He also expressed his pleasure at the active engagement of the Baltic investors throughout the process, which is reflected in the final book statistics. “With the Baltic region accounting for 24% of the offering, we are proud to contribute to this transaction.”