REFI Sun – company of “INVL Renewable Energy Fund I”, which invests in renewable energy projects, has successfully issued the second 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 5 million were issued. The bonds will be subject to annual interest of 8.5%, with interest payable quarterly. The second tranche bonds have a maturity of 2 years and 4 months.
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 5,180 bond purchase applications were submitted, of which the maximum amount was satisfied, i.e., 5,000 bonds were distributed to investors for a total amount of EUR 5.08 million. The largest part of the proceeds (89.5%) was raised in Lithuania, while 7.3% was from Latvia and 3.2% from Estonia. In total, 331 investors acquired the REFI Sun bonds. During allocation, 11.4% were allotted to institutional investors and 88.6% to retail investors.
Contact person:
Linas Tomkevičius
The head of the company
Email: linas.tomkevicius@invl.com