Kauno kogeneracinė jėgainė has signed a loan agreement for EUR 110 million
Ellex in Lithuania advised Kauno kogeneracinė jėgainė (a joint venture of Ignitis grupė and Gren Group) on negotiating and concluding a long-term loan agreement of EUR 110 million with AB Swedbank.
The loan funds will be used to refinance a long-term loan concluded with AB Swedbank with a maturity date of 31 May 2022.
The maturity term of the loan is 10 years with a possibility to extend the term of the Agreement for additional 5 years if both the Company and AB Swedbank agree. The Agreement includes additional measures ensuring the fulfillment of obligations that include all tangible fixed assets of the Company as collateral and the pledge of funds in the Company’s bank accounts. Other loan terms and conditions are confidential.
The Agreement was signed on 28, March.
The client was advised by Eglė Neverbickienė, the senior associate of Banking and Finance practice.