PVTIME – AB “Ignitis grupė” (hereinafter – the Group) informs that on 6 September 2022 the Management Board of the Group approved the intention to conclude a credit line agreement of EUR 75 million (hereinafter – the Agreement) with Luminor Bank AS.
The credit line will be used to finance the Group’s need for working capital due to increased energy prices. After signing this Agreement the total amount of credit lines concluded by the Group with banks will amount to EUR 599 million.
The Agreement is committed and is concluded for a term of 24 months. The Agreement do not include additional measures ensuring the fulfilment of obligations. Other loan terms and conditions are confidential.
The Agreement will be signed in the near future, the Group will not inform about its signing in a separate material event notice.