Latvenergo AS issued green bonds

Yesterday, on 15 February 2023 Latvenergo AS (Baa2/stable, Moody`s) implemented a placement of six-year green bonds in total nominal value of EUR 50 million with a fixed annual interest rate and a yield to maturity of 4.952% (final terms of issuance of notes attached).

The total amount of the submitted purchase orders reached EUR 132.6 million. The purchase orders were received from more than 20 investors, including asset management funds, insurance companies and banks in Latvia, Lithuania, Estonia, Germany and Austria, and international financial institutions – European Bank for Reconstruction and Development and Nordic Investment Bank.

It is intended that the notes will be listed on Nasdaq Riga AS.

The issuance of notes is being implemented under Latvenergo AS EUR 200 million third programme for the issuance of notes. The arrangers of the issuance are Luminor Bank AS un Swedbank AB (publ). Legal advice was provided by COBALT.

The proceeds from the issuance of notes will be allocated to environment-friendly investment projects in accordance with Latvenergo AS Green Bond Framework, which has received the Dark green shading issued by the independent research center CICERO Shades of Green. This is the highest category shading in the CICERO’s methodology. That indicates the compliance of the planned projects with long-term environmental protection and climate change mitigation objectives, as well as good governance and transparency.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 29 453 897

Ivita Bidere
AS “Latvenergo”
Preses sekretāre
Tālr.: 67728809; 29279158