COBALT advises on issuance of EUR 100 million Latvenergo AS green bonds

COBALT acted as a legal advisor in connection to the issuance of EUR 100 million five-year green bonds by Latvenergo AS with a fixed annual interest rate and a yield to maturity of 2.42%. The notes are expected to be listed on Nasdaq Riga AS.

The total amount of the submitted purchase orders reached more than EUR 160 million. The purchase orders were received from 17 investors, including asset management funds, insurance companies and banks in Latvia, Lithuania, Estonia, Finland, Sweden and Austria, and international financial institutions – European Bank for Reconstruction and Development and Nordic Investment Bank.

“Currently, the energy sector is undergoing significant changes throughout Europe, and it is very important that investors, even in such changing market environment, show high confidence in the growth direction chosen in Latvenergo’s strategy. Many thanks to investors for their interest in Latvenergo’s green bonds,” says Guntars Baļčūns, Chief Financial Officer of Latvenergo 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 in relation to the issuance of notes was provided by COBALT team, including Partner Edgars Lodziņš and Senior Associate Krišjānis Bušs.