Ecology, Energy, Investments, Latvia

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 20:38

Demand for Latvenergo green bonds 5.8 times higher than supply

BC, Riga, 08.04.2016.Print version
Investors' demand for the green bonds issued by Latvia's Latvenergo power utility was 5.8 times higher than the amount supplied by the company, Latvenergo said in an announcement to Nasdaq Riga stock exchange, cites LETA.

The company's representatives informed that the total amount of the purchase orders reached EUR 146.1 million at the end of the placement period, which was 5.8 times more than the planned issue amount.

 

Purchase orders have been received from 21 various investors, including asset management funds, insurance companies and banks in Latvia, Lithuania, Estonia, France, Austria and Finland.

 

Latvenergo is going to issue its green bonds, maturing on June 10, 2022, on April 14. The nominal value of one note has been set at EUR 1,000, and the coupon rate is 1.9%. The bonds will be included in the Nasdaq Riga Bond List.

 

On June 10, 2015, Latvenergo issued EUR 75 million worth of seven-year bonds. The bonds have been issued to raise money for the concern's environment-friendly projects.

 

Latvenergo is a state-owned electricity utility, which also provides telecommunications and IT services. The Latvenergo group has six subsidiaries – Sadales Tikls (Distribution Network), Latvijas Elektriskie Tikli (Latvian Power Grid), Energijas Publiskais Lietotajs, Liepajas Energija heating utility in the south-western Latvian town of Liepaja as well as a Lithuanian subsidiary Elektrum Lietuva, and an Estonian subsidiary Elektrum Eesti which has a subsidiary Elektrum Latvia.






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