Concerning the intention of the AB subsidiary “Ignitis grupė” UAB “Ignitis” to lend up to 104 million euros
AB “Ignitis grupė” (hereinafter – the Group) informs that on October 11, 2021, the Management Board of its subsidiary UAB “Ignitis” (hereinafter – the Company) approved the intention to enter into a short loan agreement. term for a maximum amount of 104 million euros. (hereinafter – the Contract) with AB SEB bankas.
The loan will be used to finance the increased working capital requirements of the Company and its subsidiaries. The working capital requirements constituted by the high market prices of natural gas and electricity, financial exchanges and the difference between the actual price of raw materials in the market and the electricity and natural gas tariffs approved for domestic consumers for the 2021 period. The conclusion of the agreement will optimize financing costs and will not have a negative impact on the performance of the Company.
The agreement does not include additional measures to ensure compliance with obligations. The other terms and conditions of the loan are confidential.
The Agreement will be signed in the near future, the Group will not notify its signature in a separate material event notice.
For more information please contact:
Public Relations Manager at Ignitis Group
+370 620 76076