Organic producer AUGA group issued green bonds for maximum Eur 20 million nominal value, which was provided in final issue terms. This is the first fully privately-owned listed entity in the Baltic states to issue green bonds.

The demand of company’s offered bonds exceeded supply. 490 applicants applied for EUR 25 million. Total demand by retail investors was approx. 26 percent of total demand.

Investors from the Baltics formed the majority of the demand. The bond issue by AUGA group is one of the largest bond issues on the Nasdaq Baltic in terms of value and number of investors.

“The successful first issue of green bonds of AUGA group shows that both institutional and private investors trust the company’s vision to develop the sustainable food production concept. The funds raised will allow the company to continue sustainable agriculture innovations development, meanwhile investors will receive attractive returns on investment, ” says Dalius Misiūnas, Chairman of the Board of AUGA group.

Maturity date is 17 December 2024, annual interest – 6 per cent. The bonds have 100% collateral coverage by the land owned and cultivated by the group companies in Lithuania.

The bonds are expected to be delivered to investors on 17 December 2019 and trading in the bonds is expected to commence on Nasdaq Vilnius soon after that.

As stated in the prospectus for the programme of the offering of bonds, approved by the Bank of Lithuania the company can issue the bonds in the amount of up to EUR 60 million.