Latvenergo has approved Luminaire Bank and Suedebank as bond issue managers to hold a global investor group and several remote investor meetings on May 5, 2021 at 2 p.m.

In line with the strategic goals of the Latvenergo Group, the funds raised will be invested in the implementation of eco-friendly investment projects.

The independent research center Cicero Shades of Green (“Cicero”) rated Latvenergo’s updated green bond framework with the “Dark Green” mark, the highest rating possible on the Cicero rating scale, the company said in a statement.

On Tuesday, the Financial and Capital Markets Commission (FCMC) registered the basic prospectus of Latvർrgo’s third bond offer program and allowed Latvർnergo to offer bonds publicly. The total amount of the nominal value bond offer program is set at 200 million euros, but the term of the bonds is planned to be up to 10 years.

The relevant base prospectus replaces the previous base prospectus approved on April 14, 2020 in connection with the third bond offering program.

In 2020, the Latvenergo Group’s audit turnover was 773.391 million euros, down 8.1 percent from a year earlier, but the group’s profit rose 23.3 percent to 116.309 million euros. Meanwhile, the group’s parent company, Latvenergo, saw its turnover fall 11.9% to 385.612 million euros, while the company’s profit rose 53% to 154.848 million euros.

Latvenergo is engaged in the production and sale of electricity and heat, as well as the sale of natural gas and electricity supply services. Latvenergo’s bonds are listed on Nasdaq Riga Debt Securities. The company is government-owned.


Source Swords Today