Latest news with #ArteaBank
Yahoo
6 days ago
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INVL Renewable Energy Fund I company REFI Sun aims to raise up to EUR 15 million in public bond offering
The INVL Renewable Energy Fund I managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is seeking to raise up to EUR 15 million through an offering of bonds issued by REFI Sun, a company the fund owns. The bonds will be offered publicly to retail and institutional investors in the Baltic countries from 28 July to 15 August. The bonds have a maturity of 2.5 years. The fixed interest rate on the debt securities will be set in the range of 7.5% to 8.5% and announced at completion of the offering. Interest will be paid to investors quarterly. The INVL Renewable Energy Fund I will provide guarantees to all holders of the REFI Sun bonds. 'Construction of the fund's renewable energy projects in Romania and Poland is gaining momentum, so there is also a growing need for financing, which in part we aim to meet by issuing new bonds. Most of the money raised from investors will be used to refinance a loan previously obtained by one of the fund's companies, the rest will go to the fund's solar power plant construction projects,' says Liudas Liutkevičius, Managing Partner of the INVL Renewable Energy Fund I. REFI Sun seeks to raise up to EUR 15 million in a public offer in Lithuania, Latvia, and Estonia under a base prospectus for EUR 25 million bond programme approved by the Bank of Lithuania. The minimum investment amount is EUR 1,000. The lead arranger of the bond program is Artea Bank. Evernord will also participate in the placement in Lithuania, while LHV Pank and Signet Bank acting as distribution partners in Estonia and Latvia. The certified advisor to the issuer is the Sorainen law firm, while the bondholders' trustee is the company Audifina. It is planned that the debt securities will be listed on the First North alternative securities market operated by Nasdaq Vilnius within three months after the issue date. More information about the bond issue and the offering process is available on the website of the INVL Renewable Energy Fund I. An online presentation and question-and-answer session for investors (in English) will be held on 31 July at 10:00. The link to join the session is here. An online presentation and Q&A session for investors in the Lithuanian language will be held on the same day at 14:00; the link to join that session is here. In February 2025, the INVL Renewable Energy Fund I's company REFI Energy successfully completed an EUR 8 million public offering of bonds with an annual interest rate of 8%. Demand for the bonds exceeded the issue size 1.7 times, demonstrating strong investor confidence in the Fund's management team and strategy. The INVL Renewable Energy Fund I is focusing on the Polish and Romanian markets, where the fund's managers see big growth potential. Total capacity of the fund's portfolio of projects in development in these markets is 389 MW. In Romania, the fund is investing in projects for 8 solar plants with a combined capacity of 356 MW. In Poland, it is developing solar park projects with over 32 MW in capacity. Investments in Romania and Poland are expected to exceed EUR 250 million. The fund has invested over EUR 90 million in acquisition and construction of the projects as of June 2025. Construction of all the solar parks should be completed by the end of 2027. To date the INVL Renewable Energy Fund I has raised EUR 73.9 million from investors through investment units and bonds. About the INVL Renewable Energy Fund I The INVL Renewable Energy Fund I was established on 20 July 2021 by INVL Asset Management, the leading alternative asset manager in the Baltic States, as a sub-fund for informed investors. It invests in early- and mid-stage renewable energy projects (solar), including the construction of new power plants, the development and/or acquisition of the infrastructure necessary for the operation of power plants, and effective management of existing power plants in the European Union and member states of the European Economic Area. INVL Asset Management is part of Invalda INVL, the leading Baltic asset management group. Further information:Liudas LiutkevičiusManaging Partner of the INVL Renewable Energy Fund
Yahoo
6 days ago
- Business
- Yahoo
INVL Renewable Energy Fund I company REFI Sun aims to raise up to EUR 15 million in public bond offering
The INVL Renewable Energy Fund I managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is seeking to raise up to EUR 15 million through an offering of bonds issued by REFI Sun, a company the fund owns. The bonds will be offered publicly to retail and institutional investors in the Baltic countries from 28 July to 15 August. The bonds have a maturity of 2.5 years. The fixed interest rate on the debt securities will be set in the range of 7.5% to 8.5% and announced at completion of the offering. Interest will be paid to investors quarterly. The INVL Renewable Energy Fund I will provide guarantees to all holders of the REFI Sun bonds. 'Construction of the fund's renewable energy projects in Romania and Poland is gaining momentum, so there is also a growing need for financing, which in part we aim to meet by issuing new bonds. Most of the money raised from investors will be used to refinance a loan previously obtained by one of the fund's companies, the rest will go to the fund's solar power plant construction projects,' says Liudas Liutkevičius, Managing Partner of the INVL Renewable Energy Fund I. REFI Sun seeks to raise up to EUR 15 million in a public offer in Lithuania, Latvia, and Estonia under a base prospectus for EUR 25 million bond programme approved by the Bank of Lithuania. The minimum investment amount is EUR 1,000. The lead arranger of the bond program is Artea Bank. Evernord will also participate in the placement in Lithuania, while LHV Pank and Signet Bank acting as distribution partners in Estonia and Latvia. The certified advisor to the issuer is the Sorainen law firm, while the bondholders' trustee is the company Audifina. It is planned that the debt securities will be listed on the First North alternative securities market operated by Nasdaq Vilnius within three months after the issue date. More information about the bond issue and the offering process is available on the website of the INVL Renewable Energy Fund I. An online presentation and question-and-answer session for investors (in English) will be held on 31 July at 10:00. The link to join the session is here. An online presentation and Q&A session for investors in the Lithuanian language will be held on the same day at 14:00; the link to join that session is here. In February 2025, the INVL Renewable Energy Fund I's company REFI Energy successfully completed an EUR 8 million public offering of bonds with an annual interest rate of 8%. Demand for the bonds exceeded the issue size 1.7 times, demonstrating strong investor confidence in the Fund's management team and strategy. The INVL Renewable Energy Fund I is focusing on the Polish and Romanian markets, where the fund's managers see big growth potential. Total capacity of the fund's portfolio of projects in development in these markets is 389 MW. In Romania, the fund is investing in projects for 8 solar plants with a combined capacity of 356 MW. In Poland, it is developing solar park projects with over 32 MW in capacity. Investments in Romania and Poland are expected to exceed EUR 250 million. The fund has invested over EUR 90 million in acquisition and construction of the projects as of June 2025. Construction of all the solar parks should be completed by the end of 2027. To date the INVL Renewable Energy Fund I has raised EUR 73.9 million from investors through investment units and bonds. About the INVL Renewable Energy Fund I The INVL Renewable Energy Fund I was established on 20 July 2021 by INVL Asset Management, the leading alternative asset manager in the Baltic States, as a sub-fund for informed investors. It invests in early- and mid-stage renewable energy projects (solar), including the construction of new power plants, the development and/or acquisition of the infrastructure necessary for the operation of power plants, and effective management of existing power plants in the European Union and member states of the European Economic Area. INVL Asset Management is part of Invalda INVL, the leading Baltic asset management group. Further information:Liudas LiutkevičiusManaging Partner of the INVL Renewable Energy Fund
Yahoo
11-06-2025
- Business
- Yahoo
AB Artea bankas own shares acquisition programme completed
On 10 June, 2025 AB Artea bankas (the Bank) has completed its own share (ISIN code LT0000102253) buy-back programme on the regulated market, which was carried out from 5 May, 2025. During this period, the Bank acquired 2,540,000 treasury shares, i.e. 96 % of the maximum number of shares within the limit set at the time of the programme's expiry, for a total amount of EUR 2,225,741.28, at an average price of EUR 0.876 per share. This buyback program, the purpose of which is to reduce the Bank's capital, was approved by the Management Board of Artea Bank on April 30, 2025, implementing the decision of the Bank's ordinary general meeting of shareholders of March 31, 2025. Share buy-back was implemented under authorisation from the European Central Bank (ECB) on 15 August, 2024 to buy back up to 13,745,114 of its own shares. "We have successfully completed our share buyback program under ECB authorization granted last year. We plan to continue buying back our own shares, as this is part of our commitment to create greater value for our shareholders," says Tomas Varenbergas, Board Member, Head of Investment Management Division of Artea Bank. Separately the Bank submitted a request to ECB on April 9, 2025 for permission to acquire 4.5 million of its own shares and plans to allocate up to 5% of 2024 profit for the buy back of own shares in total. The Bank will inform in a separate announcement once the authorisation from the ECB will be granted. Additional information:Tomas VarenbergasHead of Investment Management , +370 610 44447Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-06-2025
- Business
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John Michael Denhof starts taking the position of a member of the Supervisory Council of AB Artea bankas
AB Artea bankas, company code 112025254, address Tilžės str. 149, 76348 Šiauliai, Lithuania. On 6 June 2025 AB Artea bankas received notification from the European Central Bank (ECB) that the Governing Council of the ECB has decided not to object to the appointment of John Michael Denhof as an independent member of the Supervisory Council of Artea Bank. John Michael Denhof has been elected to the Supervisory Council of Artea Bank at the General Meeting of Shareholders held on 31 March 2025. The decision of the meeting stipulates that he will take up the duties of the member of the Supervisory Council only with the permission of the supervisory authority. John Michael Denhof is considered to be an independent member of the Supervisory Council of Artea Bank as of 6 June 2025. Additional information:Oksana BalsienėHead of in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
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To stay within the 20% threshold, Invalda INVL Group sold some of its shares in Artea bank
Invalda INVL, the leading Baltic asset management group, has sold 2 million shares, representing 0,3% of the authorized capital, of Artea Bank at EUR 0.88 per share to remain within the 20% shareholding limit set by the European Central bank. "Artea Bank decided to annul its previously acquired own shares and to reduce its authorized capital. As a result, Invalda INVL Group had to sell some of its shares to remain within the permitted limit of the bank's authorized capital, As the transaction was made over-the-counter (OTC), it did not affect the market price of the bank's shares," says Darius Šulnis, the CEO of Invalda INVL. According to the shareholders' meeting decision of Artea Bank (previously Šiaulių Bankas) on 31 March 2025, the bank will annul 10,597,749 of its shares, reducing its authorized capital to EUR 189,195,680. Without this sale, Invalda INVL Group's stake would have increased to 20.25% of the shares after the reduction of the bank's authorized capital, exceeding the regulatory threshold. Invalda INVL group currently holds 19.93% of the shares in Artea Bank. The person authorized to provide additional information is:Darius Šulnis, CEO of Invalda Sign in to access your portfolio
