REFI Sun – company of “INVL Renewable Energy Fund I”, which invests in renewable energy projects, has issued the fourth and final tranche of the public bond issue offered under a EUR 25 million bond programme approved by the Bank of Lithuania on 17 June 2025. During this offering bonds in the value of more than EUR 1.1 million were issued. The bonds will be subject to annual interest of 8.5%, with interest payable quarterly. The fourth tranche bonds have a maturity of 2 years and 1 month.
Retail and institutional investors from Lithuania, Latvia, and Estonia actively participated in the offering. The net proceeds from the Bonds issue will be used to: (i) continue to finance the development of renewable energy — solar power plant — projects in Romania and Poland; (ii) optimise existing loan portfolio.
A total of 4,365 bond purchase applications were submitted, of which the maximum amount was satisfied, i.e., 1,167 bonds were distributed to investors for a total amount of EUR 1,167 million. The largest part of the proceeds (63.24%) was raised in Lithuania, while 32.73% was from Latvia and 4.03% from Estonia. In total, 302 investors acquired the REFI Sun bonds. During allocation, 31.9% were allotted to institutional investors and 68.1% to retail investors.
Contact person:
Linas Tomkevičius
The head of the company
Email: linas.tomkevicius@invl.com