Bond offering details for REFI Blue
A company linked to Lithuania’s INVL Asset Management has launched a public bond offering to refinance short-term debt tied to a solar power project in southwestern Romania. The issuing entity is REFI Blue, owned by INVL Renewable Energy Fund I. The planned fundraising totals €10 million through the bond sale.
The proceeds are intended to refinance financing for a 60 MW solar power plant in Dolj County. The facility has been completed and connected to the electricity grid, according to the company.
Maturity, pricing expectations and investor access
The bonds are scheduled to mature on 22 December 2028. The final yield is expected to be within the 8–9% range and will be set through an auction process. The minimum investment is set at €1,000.
The offering runs from 27 May to 17 June. It is open to both retail and institutional investors across the Baltic region. After issuance, the bonds are expected to be listed on the Nasdaq Vilnius First North market.
Guarantee, arranger role and project status
The transaction is backed by a guarantee from INVL Renewable Energy Fund I. Artea Bank is serving as lead arranger and distributor for the offering. The company said the solar facility covers around 67 hectares.
The project is already supplying electricity during its operational testing phase, while final licensing procedures remain ongoing.
INVL Renewable Energy Fund I pipeline in Romania and Poland
INVL Renewable Energy Fund I is also active in developing renewable energy projects across Romania and Poland. Its combined project pipeline reaches approximately 389 MW.
