The company will cover the liabilities for the construction of the Kurzeme Ring Road, the third Latvian-Estonian interconnection and TEC-2.
Gunta Jēkabsone, the head of Augstsprieguma tīkls, points out that several possible sources of finance have been assessed, including a loan from banks, but the company has also met the criteria to raise money with green bonds. “This was a more advantageous offer financially on the day of the bond issue. To borrow from a bank, there is a relatively simple contract term. In order to start on the stock exchange, you have to meet a number of requirements for good corporate governance and sustainability issues, ”said Jākobsone.
It is already clear that the result is positive. “We are really pleased that demand has doubled supply.
Foreign investors showed great interest, including the European Investment and Development Bank, the Nordic Investment Bank, pension funds, as well as the largest banks in Latvia, ”said the head of the company.
High-voltage network bonds are issued for a term of five years and three months with a fixed annual interest rate of 0.5%. The company is planning another bond issue of up to 60 million euros.
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