The agreement provides 150 mln. EUR trade financing limit and 75 million. EUR term loan. The Ignitis Group's core business activities are energy generation, distribution and supply in the Baltic region and the development of innovative energy solutions. They are one of the largest energy groups in the Baltic region.
The trade finance limit is non-binding and can be used to issue trade finance and/or letters of credit. The term loan is binding and concluded for 24 months, the company announced through Nasdaq Vilnius Securities.
The financing will be used to manage the company’s working capital needs. The contract does not provide additional measures to ensure the fulfilment of obligations.
TGS Baltic teams are honoured to work with Dentons, who took the lead in advising on the applicable English law matters, for fluent cooperation in executing the landmark transaction.
