In June 2026, Latvenergo AS, Latvia’s state-owned energy utility, returned to the international debt capital markets with a EUR 300 million, seven-year senior unsecured EU Green Bond carrying a fixed annual coupon of 4.162%. Issued on 16 June 2026 with a maturity date of 25 June 2033, the notes were placed under Latvenergo’s EUR 1 billion Euro Medium Term Note (EMTN) Programme and priced at 130 basis points over mid-swaps. The transaction builds on Latvenergo’s inaugural EU Green Bond issued in November 2025 and further strengthens the company’s position in the international debt capital markets.
The offer attracted strong demand from institutional investors across Europe and beyond, including asset managers, investment funds, and banks. The bonds are listed on the Luxembourg Stock Exchange and Nasdaq Riga.
The notes were issued as European Green Bonds, aligned with the European Green Bond Standard, with proceeds to be used to finance and refinance eligible green projects in accordance with Latvenergo’s European Green Bond Factsheet.
BNP Paribas and J.P. Morgan acted as Global Coordinators and Joint Bookrunners, with Skandinaviska Enskilda Banken AB (publ) and Luminor Bank AS acting as Joint Bookrunners.
TEGOS acted as Latvian legal counsel to the Joint Bookrunners in connection with the issuance. The team was led by Partner Inese Hazenfusa and supported by Senior Associate Mārtiņš Galzons. TEGOS supported the transaction on Latvian law aspects throughout the process, in particular corporate matters.
