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International Internet Magazine. Baltic States news & analytics Wednesday, 23.05.2018, 23:39

PM: no state guarantees to be provided over Latvenergo bond issue

Alla Petrova, BC, Riga, 22.08.2012.Print version
No special state guarantees will be provided over the joint-stock power utility Latvenergo bond issue, Prime Minister Valdis Dombrovskis (Unity) said in an interview on LNT television this morning.

Latvenergo’s credit rating is as high as that of Latvia's, therefore it has a good chance of borrowing on the international market, said the premier.


The bond issue is one of the ways for the company to secure additional funding for the development of various projects, said Dombrovskis, adding that Latvenergo bond issue would also contribute to capital market development, writes LETA.


As reported, Latvenergo announced yesterday that it was planning to hold a public bond issue at the end of this year in order to raise additional money for its long-term capital investment program.


The bonds will be included on the Nasdaq OMX Baltic stock exchange's list of debt securities; the nominal value of the bonds is planned at LVL 50 million. The specific parameters of the bond issue are yet to be decided.

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