The companies of AUGA group, AB (hereinafter - the Group) have signed agreements to refinance loans and provide additional limits with the Lithuanian branch of AS "Citadele banka", the Lithuanian branch of
“For some time now, the Group has been seeking to achieve the goal that’s set out in our strategy. That is to refinance its existing liabilities and to restructure its funding structure, by reducing the short-term and increasing the long-term liabilities in our portfolio. We are pleased that the growing results of the Group and the favourable attitude of banks to our business sector, alongside AUGA group, AB sustainability strategy, have helped us to find mutually acceptable solutions,” – commented
According to the new agreements, the banks will finance the main operating companies of the Group. AUGA group, AB as a legal entity, will remain the issuer of the bonds. It is expected that this solution will increase the transparency of the Group’s operations. It will also allow banks and bondholders to better assess the performance of the financed companies.
The agreements with these financial institutions specify that in total, the contracts signed amount to
“We are currently actively working to reduce the greenhouse gas emissions of the Group's operations and developing unique technologies in three key areas that account for the majority of emissions. We are also paying a lot of attention to improving the efficiency of existing business segments so that we can bring the yield and cost structure of organic farming in line with the level of conventional farming. All of these goals require significant investment; therefore, these new loan terms will allow us to find better quality solutions and help us achieve the results we hope for more quickly,” – commented
Contacts:
Phone: +370 620 67296
Email: m.ambrasas@auga.lt
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