INVL Renewable Energy Fund I Initiates Public Bond Offering
The INVL Renewable Energy Fund I, managed by INVL Asset Management, is excited to announce its plan to raise up to EUR 15 million through a public bond offering. This initiative is driven by the fund’s ownership of REFI Sun, which will issue these bonds. The offering is set to target both retail and institutional investors across the Baltic countries.
Key Details of the Bond Offering
The public offer for the bonds is scheduled to run from late July to mid-August. With a maturity period of 2.5 years, these debt securities will feature a fixed interest rate ranging from 7.5% to 8.5%. Investors can expect quarterly interest payments. Notably, the INVL Renewable Energy Fund I will provide guarantees on all REFI Sun bonds, ensuring investor security.
Financing Renewable Energy Projects
According to Liudas Liutkevi?ius, Managing Partner of the INVL Renewable Energy Fund I, the momentum of renewable energy projects in Romania and Poland is increasing the need for financial support. A significant portion of the raised capital will be allocated to refinance a prior loan secured by one of the fund’s companies, with the remainder funneled into developing solar power plants.
Investment and Conditions
The offering will take place in Lithuania, Latvia, and Estonia, supported by a base prospectus for a EUR 25 million bond programme, as approved by the Bank of Lithuania. The minimum amount for investment is set at EUR 1,000, making this opportunity accessible to various investors.
The lead arranger for the bond program is Artea Bank, with support from Evernord, LHV Pank, and Signet Bank for distribution in their respective markets. Legal and administrative oversight will be provided by the Sorainen law firm and Audifina. The listed debt securities are expected to appear on the First North alternative market by Nasdaq Vilnius within three months following the issuance.
Investor Engagement Opportunities
To further engage potential investors, an online presentation will be hosted, featuring a Q&A session in English. Scheduled for the end of July, this session aims to provide insights into the bond offering and answer investor inquiries. A session in Lithuanian will also be available on the same day to accommodate a broader audience.
Recent Investment Success
In a similar successful venture, the INVL Renewable Energy Fund I’s company, REFI Energy, raised EUR 8 million through a public bond offering in early 2025, which exceeded demand expectations. This reflects strong investor confidence and aligns with the fund’s strategic growth outlook.
Focus on Growth Markets
The INVL Renewable Energy Fund I's strategy is heavily focused on the Polish and Romanian markets. With a portfolio capacity of 389 MW, plans include significant investments in solar projects. In Romania alone, the fund is involved in developing eight solar plants with a total capacity of 356 MW, while in Poland, projects exceeding 32 MW are underway.
In aggregate, investments in both countries are projected to surpass EUR 250 million, with over EUR 90 million committed already for these development projects. The anticipated completion of all solar parks is set for the close of 2027, marking a substantial advancement in renewable energy production in the region.
About INVL Renewable Energy Fund I
The INVL Renewable Energy Fund I was established to provide sophisticated investors with opportunities in early to mid-stage renewable energy projects within the European Union. Managed by INVL Asset Management, a leader in alternative investments in the Baltic States, the fund emphasizes efficient management and the ongoing development of power plants.
Contact Information
For more detailed information about this offering or other inquiries, investors can reach out directly to Liudas Liutkevi?ius, Managing Partner of the INVL Renewable Energy Fund I, at liudas.liutkevicius@invl.com.
Frequently Asked Questions
What is the purpose of the EUR 15 million bond offering?
The funds will primarily refinance an existing loan and support the construction of solar power projects within the fund's portfolio.
How long is the bond maturity period?
The maturity period for the bonds is set at 2.5 years.
What is the minimum investment amount for the bonds?
The minimum investment needed to participate is EUR 1,000.
When will the bonds be available for trading?
The bonds are expected to be listed on the First North market within three months after their issuance.
Who manages the INVL Renewable Energy Fund I?
The fund is managed by INVL Asset Management, a prominent alternative asset manager in the Baltic region.
