Sun Investment Group, UAB (the Company or the Issuer) announces that, due to changes in the implementation schedules of certain EPC (engineering, procurement and construction) projects undertaken by the Company's subsidiary, the related cash flows are expected to be received later than originally anticipated. As a result, a timing mismatch has arisen between the expected receipt of funds and the maturity date of the Company's bonds (ISIN LT0000409963) (the Bonds), currently scheduled for 29 November 2026.
The changes in project implementation schedules have resulted from delays in project financing closings, adjustments to equipment delivery and construction schedules, and grid connection readiness. Consequently, certain EPC contractual milestones and the corresponding payments have been deferred, which has also affected the timing of the anticipated distribution of funds to the Company in the form of dividends.
The Company currently expects that a significant portion of the relevant project milestones will be completed during Q4 2026–Q1 2027 and that the cash flows required for the redemption of the Bonds will be received in May 2027.
In order to align the Bonds' maturity date with the expected cash flow schedule, on 8 October 2026 the Company submitted a request to the bondholders' trustee, UAB AUDIFINA, to convene a bondholders' meeting on 30 October 2026 at 10:00.
At the meeting, the Company intends to propose that bondholders approve the following amendments to the terms and conditions of the Bonds:
- Extension of the Bonds' maturity date from 29 November 2026 to 29 May 2027.
- Increase of the annual interest rate to 13.5% for the extension period from 30 November 2026 to 29 May 2027 (inclusive).
Through these proposed amendments, the Company seeks to provide additional time for the anticipated cash flows to materialise, while offering bondholders an increased interest rate for the extended investment period.
As of the date of this announcement, the proposed amendments to the terms and conditions of the Bonds have not been approved and remain subject to the bondholders' decision. The existing terms and conditions of the Bonds remain in force unless and until the proposed amendments are duly approved.