Latvenergo AS Successfully Completes EUR 400 million EU Green Bond Placement in the International Markets
November 7, 2025
On 6 November 2025, Latvenergo AS has priced a senior unsecured EU Green bond for the total nominal amount of EUR 400 million. The notes bear a fixed interest rate of 3.612%, have a maturity of 5 years and are issued under Latvenergo AS Euro Medium-Term Note Programme. The notes have a maturity date on 13 November 2030.
The transaction generated strong demand from institutional investors across Europe and beyond, including asset managers, investment funds, supranational institutions, and banks. More than 140 investors participated, with total demand exceeding the targeted amount by 5.5 times, reaching EUR 2.2 billion ahead of final pricing.
The notes were priced at 125 basis points over the mid swap rate and carry a coupon of 3.612%. Classified as European Green Bonds, the proceeds will be allocated to financing and refinancing Eligible Green Projects in line with the European Green Bond Factsheet.
“Each time we take a step forward, it is a pleasure to see the results of our work - and as Latvenergo takes a new step with eurobonds, we are truly pleased by the strong interest and trust shown by investors. Both we and Latvia have received high recognition as an environment for investment - the successful EUR 400 million European Green Bond issue confirms that international investors value our strategic direction and growth story. We are ready to continue this path by investing the raised funds in renewable energy projects, strengthening the transition to green energy, and contributing to the reduction of Latvia’s electricity imports” – Guntars Baļčūns, Member of the Management Board and Chief Financial Officer.
In this deal, Latvenergo AS has mandated BNP PARIBAS and J.P. Morgan SE as Global Coordinators and Joint Bookrunners, together with Skandinaviska Enskilda Banken AB (publ) and Luminor Bank AS as Joint Bookrunners. BNP PARIBAS and J.P. Morgan SE also acted as Joint Green Structuring Agent.
The notes will be admitted to trading on the regulated market of the Luxembourg Stock Exchange (Bourse de Luxembourg) and the regulated market of AS Nasdaq Riga.