News

Latvenergo AS has attracted loan from Nordic Investment Bank for a total amount of EUR 230 million with a 15 year maturity.

The stable financial results of Latvenergo Group and the investment grade credit rating (Baa2, stable) provide the opportunity to attract the funding on favourable terms and conditions. Latvenergo AS has cooperated with Nordic Investment Bank already for more than 20 years and highly appreciates the trust shown by the bank offering long-term financing for the Group’s investment programme and continuing cooperation oriented towards development and business sustainability. Attracted financing will be invested in the development of solar parks, refurbishment of hydropower plants and modernisation of Latvia’s electricity distribution network.

Latvenergo AS raises funding on a regular basis in order to ensure timely provision of funds for the financing of capital investments. The previous fund rising in form of loans was held in 2022 attracting commercial bank loans for the total amount of EUR 200 million. Since 2012 Latvenergo AS has also been issuing bonds; the last bond issue was realised in February 2023.

Latvenergo Group has attracted funding from commercial banks, international financial institutions and by issuing bonds thus diversifying the sources of funding, ensuring favourable financing terms and conditions and allowing successful implementation of the Group’s strategy.