Ignitis Group Announces Extension of Credit Lines
Ignitis Group (hereinafter referred to as "Group") has announced its intention to extend three short-term credit lines by October 3, 2023:
- A credit agreement of €150 million with AB SEB Bank and AS SEB Pank (hereinafter referred to as "SEB Agreement 1").
- A credit line agreement of €74 million with OP Corporate Bank plc Lithuanian branch (hereinafter referred to as "OP Agreement").
- A credit agreement of €120 million with AB SEB Bank, AS "SEB Banka", and AS SEB Pank (hereinafter referred to as "SEB Agreement 2").
These credit lines will be used for managing working capital needs and ensuring the liquidity of the Group. SEB Agreement 1 and OP Agreement will be extended for an additional period of 12 months, while SEB Agreement 2 will be extended for an additional period of 24 months. Details of other loan conditions are confidential.
The amendments to the agreements will be signed in the coming days, and the Group will not provide separate notifications about the signing.
The initial SEB Agreement 1 and OP Agreement were approved by the Group's management board on August 16, 2022, source, and the initial SEB Agreement 2 was approved on October 25, 2022, source.
The information provided in this announcement does not impact the Group's forecast for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).
Arturas Ketlerius
Head of Corporate Communications at Ignitis Group
+370 620 76076
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