Cobalt has advised Latvenergo on its EUR 50 million issuance of six-year green bonds with a fixed annual interest rate and a yield to maturity of 4.952%.
Latvenergo is a state-owned electric utility company in Latvia. The company generates about 70% of the country's electricity.
According to Cobalt, "the total amount of the submitted purchase orders reached EUR 132.6 million. The purchase orders were received from more than 20 investors, including asset management funds, insurance companies and banks in Latvia, Lithuania, Estonia, Germany, and Austria, and international financial institutions – the European Bank for Reconstruction and Development and the Nordic Investment Bank."
The issuance is being implemented under Latvenergo's third EUR 200 million program for the issuance of notes. Cobalt also advised Latvenergo on its previous issuance – EUR 100 million in five-year green bonds (as reported by CEE Legal Matters on May 18, 2022).
The Cobalt team included Partner Edgars Lodzins and Senior Associate Krisjanis Buss.