Orion begins the distribution of 5 million euros public issue of Sun Investment Group bonds
Sun Investment Group (SIG), an international solar energy project development group of companies, is starting a public bond issue. With the help of this financing instrument, SIG plans to attract 5 million euros. The placement of these securities begins in October 30th and will continue until November 24th.
|Tranche size||Maturity||Coupon rate||Coupon payment rate||Minimal investment sum||Distribution dates|
|5 M EUR||12 months||13%||Semi-annual||1 000 EUR||30th October – 24th November, 2023|
The funds raised during the bond issue will be used to finance the working capital of the group and the development costs of solar power plant projects.
“As the demand for electricity produced by renewable sources grows, we are also rapidly developing our solar energy portfolio in several European countries. With a total capacity of more than 2.7 GW of projects under development in Lithuania, Poland, Italy, and Spain, we are looking for various ways to diversify funding sources. This bond issue is not the first in SIG´s financing activities. The interest we have received in the past shows that investment opportunities in the renewable energy sector are very attractive to investors,”- says Deividas Varabauskas, CEO of Sun Investment Group.
The SIG group of companies started its activities in 2017 and currently unites more than 100 professionals in Lithuania, Poland, Italy, and Spain. SIG’s portfolio currently consists of more than 2.7 GW, of which nearly 300 MW capacity are ready-for-build (RTB) projects. To this date, SIG has successfully developed, built, and sold more than 200 MW of solar power plants in Lithuania, Poland, and the UK. Since 2022, the company concentrated on increasing the number of projects under development, so the number of ready-to-build solar power projects has grown consistently. In 2024, SIG is preparing to build over 60 MW of solar power plants in Poland. These projects are expected to be sold to external buyers or held in the group’s ownership, generating long-term revenues from energy sales.
According to the consolidated audited financial statements for 2022, the value of assets managed by the group increased by 13 million euros during the year, up to 45.07 million euros. As of 2022 December 31, shareholder equity totaled 8.58 million euros.
The bonds will offer an annual interest rate of 13%, with interest payable on a semi-annual basis. The term of validity of the bonds is 12 months. The minimum investment amount is 1000 euros. Bonds are offered to both private and institutional investors who can submit subscription orders through banks and financial brokerage companies. The organizer of this bond issue offering is UAB FMĮ Orion Securities.
Mykantas Urba | „Orion Securities“ Head of corporate finance
“We are pleased to be able to present another bond offering to investors. This year is characterized by a rapidly growing number of bond issues and highly increased interest of investors in this debt instrument. We hope that due to an issuer operating in the strategically important renewable energy sector, an attractive interest rate, and a short maturity, this offering will attract interest in the Baltic capital market,” – says Mykantas Urba, head of the corporate finance department of UAB FMĮ “Orion Securities”.
Orion Securities recommends to consult with your financial advisor and evaluate all the risks associated with the financial instrument and/or other circumstances that are significant to you before making an investment decision.
Subscribe to Orion news and insights
By submitting your e-mail, you agree to get Orion marketing messages. You can unsubscribe at any time.